The program offers principal reductions to as low as 100 percent of current value and is resulting in an average of about $160,000 in reduced principal balance and 44 percent average reduction in monthly payments.More than 4,200 additional borrowers have received complete forgiveness of a total of $263 million in principal forbearance pre-dating the March 1 implementation of the settlement.
Meaningful Relief Provided To More Than 370,000 Bank Of America Customers In 2012 Through National Mortgage Settlement Programs
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