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BofA Rolls Out $8.4 Billion Loan Mod Program

If you are having difficulty making your home loan payments, you may be eligible for one of the loan modification options from Bank of America that can make your payments affordable and help you avoid foreclosure. Find out if a home loan modification is right for you.

reduction have been granted an estimated $8.4 billion in principal reduction. Of all non-GSE loans eligible. programs. Provides first lien modifications for distressed borrowers in loans. Additional programs were subsequently rolled out to expand the program reach. Making Home. Bank of America, N.A.. 39,606. 33,401.

The largest program within MHA is the Home Affordable Modification Program (HAMP). HAMP’s goal is to offer homeowners who are at risk of foreclosure reduced monthly mortgage payments that are affordable and sustainable over the long-term. HAMP was designed to help families who are struggling to.

Late last month, JPMorgan Chase & Co expanded its mortgage modification program. Bank of America, meanwhile, has said that starting Dec. 1, it will modify an estimated 400,000 loans held by newly.

The Emergency Economic Stabilization Act of 2008, often called the "bank bailout of 2008," was proposed by Treasury Secretary Henry Paulson, passed by the 110th united states congress, and signed into law by President George W. Bush.The act became law as part of Public Law 110-343 on October 3, 2008, in the midst of the financial crisis of 2007-2008.

Among his loyal clients, who’ve sent him hundreds of thousands of cases, are some of the nation’s biggest (and, thanks to American taxpayers, most handsomely bailed out) banks-including Wells Fargo,

An additional $3.5 billion of HARP-refinanced transactions were completed during the quarter, bringing the total to $11.2 billion for the year and $18 billion since the inception of the program.

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Banks VS Credit Unions Mortgage Modification and refinance programs. mortgage Lenders Nationwide. that Bank of America now manages the countrywide loan portfolio and is moving to restructure mortgages as part of an $8.4 billion settlement with three. A Bank of America spokesman says the bank will roll out the foreclosure prevention program to all fifty states.

Bank of America Corp. included principal reductions in a loan-modification program it initiated this year. will the government roll out other, even more generous, restructuring programs?”.

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