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Bank of America to reduce mortgage principal for some homeowners

By: | March 24th, 2010

03-24-2010 – LATimes.com

mortgage news“Bank of America Corp. said Wednesday that it would offer to erase $3 billion in principal over a five-year period for homeowners with certain adjustable-rate mortgages written by Countrywide Financial Corp., the aggressive Calabasas mortgage giant that BofA acquired in 2008 as the home-lending industry imploded.”

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