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Sounds like BofA is going to need another Tax Payer bailout. I can see another 50% of their mortgage holders defaulting, just because of this program.
The cutoff was January, so there can't be anymore newcomers to this. Of course, they could have a whole new bailout plan for everyone else coming up.
FYI this settlement does not include CA, hence 49 out of 50 states.
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http://finance.yahoo.com/news/bank-america-starts-mortgage-reduction-100202589.html
Pay your mortgage, no handouts. Stop paying and get a huge principal reduction. Getting tired of all these bailouts...
#housing