principal reduction for BOA loan mod after chapter 7

[mysticspirit25]

Does BOA do principal reductions on discharged first mortgages? Friends that filed and discharged want to do a mod and house is 100k underwater.

[bladerunner]

just a thought...very few banks, if any, are doing principal reductions for primary residences. We were 125% underwater and our foreclosed home was sold at auction for 53k. Five years ago we paid 150k, house appraised for 225k, we never took a second, just made our mortgage payment on time every month...and we still lost the home due to job loss. Shame though, because if the principal was reduced we could have stayed in our home. The banks do not care...they've already been bailed out for the negative equity...