Saturday, September 8, 2012

Bank of America hasn’t modified any mortgages so far under settlement. Susan Salehi Bankruptcy Ventura Oxnard Camarillo Santa Barbara Woodland Hills Los Angeles CA

 
 

 

http://bkhelpnow.com/wordpress/2012/09/06/bank-of-america-hasnt-modified-any-mortgages-so-far-under-settlement-susan-salehi-bankruptcy-

Bank of America Corp hasn’t completed any first-mortgage modifications that reduce loan balances for borrowers so far under a $25 billion settlement reached this year, the official monitoring the agreement said Wednesday.

Five financialinstitutions that are part of the settlement have provided $10.6 billion in consumer relief from March 1 to June 30, with $8.7 billion in the form of short sales in which customers sell their homes for less than the mortgage’s value. Bank of America produced $4.8 billion in short sales, the most of the five banks, according to the first report by settlement monitor Joseph Smith.

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