Bank of America Offers Principal Reductions to 200,000 Homeowners - Yahoo! Finance

Bank of America Offers Principal Reductions to 200,000 Homeowners - Yahoo! Finance ;.. But the offer is real, and eligible borrowers could get as much as $150,000 knocked off the balance of their mortgages. It is all part of the $25 billion settlement reached this year between federal and state agencies and the nation’s five largest mortgage servicers over fraudulent foreclosure document processing (so-called “robo-signing”).