Archive for November 5th, 2012

BOA Offering Unsolicited Loan Mods with Principal Reductions

The past two business days, I’ve received a handful of unsolicited offers from Bank of America for loan modifications.  I’ve received similar letters in the past, but these are different.  These include principal reductions, in some cases significant principal reductions.

In the grand scheme of things, these offers remain few and far between.  However, if you receive such an offer, make sure you assess it carefully.  Getting a significant principal reduction might be the solution necessary to keep you in your home on a permanent basis.

Mark Stopa

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