Boston Real Estate for Sale

Some homeowners have been contacted by Chase or Bank of America about having their mortgage balances reduced, without the homeowner requesting such a reduction and without being in default. Not a bad deal. The banks are trying to be proactive:

“As millions of Americans struggle in foreclosure with little hope of relief, big banks are going to borrowers who are not even in default and cutting their debt or easing the mortgage terms, sometimes with no questions asked.

Two of the nation’s biggest lenders, JPMorgan Chase and Bank of America, are quietly modifying loans for tens of thousands of borrowers who have not asked for help but whom the banks deem to be at special risk.”

From the New York Times, here.

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