- First-Lien Principal Forgiveness - Nearly 47,000 customers had been approved for offers of first-lien modifications or received forgiveness of previous principal forbearance, providing more than $7 billion in total principal reduction.
- Home Equity Relief - About 144,000 customers had received extinguishment or modification of a home equity loan or line of credit, totaling more than $9.8 billion in reduced principal.
- Interest Rate Reduction – Outreach began in August, and by year-end, more than 40,000 homeowners who are current on payments but are underwater had been offered an interest rate reduction at no cost to the borrower. More than 7,500 rate reductions had been completed.
- Other Programs - At year-end, 142,000 customers had received $13 billion in benefits from other NMS relief programs. This included nearly 99,000 qualifying short sales providing a total of $11.8 billion in relief from unpaid principal balances on the loans.
Meaningful Relief Provided To More Than 370,000 Bank Of America Customers In 2012 Through National Mortgage Settlement Programs
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