$25 Billion Loan Write Down Deal would Help Underwater Borrowers

by ritasimpson on February 6, 2012

in How's The Market

Government officials are closer than ever to settling on a 25 Billion dollars in loan write downs, re-fis and other homeowner assistance deal with   Ally Financial, Bank of America, JP Morgan Chase, and Wells Fargo. Still several sticking points remain.

The largest chunk of such a deal would be in the value of principal reductions and other benefits to distressed homeowners. If Bank of America wins court approval for the  2011 agreement with Countrywide bond investors it would have more authority to write down loan balances. Read more

Leave A Reply With Facebook

Malibu Home Search Malibu Home Values

Post by Rita Simpson

Rita has written 468 articles.

Leave A Reply With Facebook

Previous post:

Next post: