Bank of America to Offer Mortgage Assistance to 200,000 borrowers

Bank of America to offer mortgage assistance to about 200,000 struggling borrowers, according to CNBC report. In an effort to settle the fraudulent foreclosure proceedings, the Bank of America, is expected to send out letters to qualifying borrowers, but not all are expected to respond as the mailings may resemble junk mail. For all of you Lake Tahoe real estate owners that have attempted to qualify for a loan modification in the past, or are upside-down on your mortgage and receive a letter from Bank of America offering loan assistance, don’t throw it away!

See more: http://finance.yahoo.com/news/bank-of-america-offers-principal-reductions-to-200-000-homeowners.html