Will you be one of the lucky ones - Bank Of America

[Pandora]

This should be interesting to see how it all plays out.

http://www.cnbc.com/id/47331680

I see a house of cards scenario -

[tobee43]

wow!!! so i'm sitting here watching cnn, why isn't this one the news so people don't throw out those letters. i know if i got one, i certainly would!!

200,000 of them...we will see. i still don't understand why they make you be behind in your mortgage before they will assist you. makes no sense to us when we tried for a loan mod, and it still makes no sense to me today.

i'm also surprised about how they are going about this. what? is this their "punishment" for robo-signing? sounds like it.

i hope some can really and truly benefit for this program!

[SMinGA2]

Wondered when we'd see details on this - I'd read about how BofA would be doing principal reductions a month or so back.

Unfortunately I do not qualify. My mortgage has been current since we modified almost 2 years ago, and its not above 25% of my gross. Darn. Oh well, we are better off than many. I figure we have perhaps -10% equity, but we'd pay more to rent. Not to mention we'd lose the mortgage interest deduction.

[SMinGA2]

I think so - the $ reduced will dollar for dollar offset the penalties owed.

i'm also surprised about how they are going about this. what? is this their "punishment" for robo-signing? sounds like it.

i hope some can really and truly benefit for this program!

[tobee43]

I think so - the $ reduced will dollar for dollar offset the penalties owed.

yes, i know you're right, i just wanted their spanking to sting a bit more!