banks, underwater mortgage

Bank of America to reduce principal for up to 200,000 homeowners

Bank of America said Friday 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.

Foreclosure deal near as banks win more immunity

Talks between states and top banks over mortgage abuses are nearing agreement on a major sticking point that has bogged down settlement negotiations for more than a year.

Senh: The sooner they get this done, the better. The sad part of all of this is that people who have been current with their mortgage payments can't even take advantage of today's low mortgage rates and refinance because their homes are underwater. Although I kinda feel like we're letting the banks off too easily.

More homeowners are opting for 'strategic defaults'

Underwater on their mortgages and angry at banks, more borrowers are choosing to hand over the keys, even if they can afford the payments. Wynn Bloch has always dutifully paid her bills and socked away money for retirement.

Pay the Mortgage or Walk Away?

A growing number of homeowners are considering a "strategic default," walking away from their mortgages not out of necessity but because they believe it is in their best financial interests.

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Banks, Underwater Mortgage | featured news

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Bank of America to reduce principal for up to 200,000 homeowners

Foreclosure deal near as banks win more immunity

More homeowners are opting for 'strategic defaults'

Pay the Mortgage or Walk Away?