All posts tagged Bank of America

Details on the Settlement with “Major Banks”

There is a great website at where you can find the original complaint filed by the feds and most of the states against a bunch of large banks and servicing companies.  The website also has an executive summary of the settlements and copies of the actual settlement agreements.  The complaint sure pulls no punches accusing banks of doing all sorts of fraudulent things and accusing them of doing these things on purpose.  I hope there is not a whole new round of people who stop paying their mortgages so they can qualify for these new programs.

Bank of America will Reduce Principal to 200,000 Underwater Homeowners

Bank of America said on Friday, March 9, 2012, that it would reduce by about $100,000 the amount owed by as many as 200,000 underwater homeowners as part of the recently announced government foreclosure settlement with top mortgage servicers.  The details are set forth in the LA Times article here.