Jacksonville Real Estate Market

Jacksonville, Florida

Bank of America Slashes $4.75 Billion Off Mortgages

Officials at Bank of America said they are half way to fulfilling their mandate of providing $7.6 billion worth of consumer relief.

Bank of America Slashes $4.75 Billion Off Mortgages

Officials at Bank of America said they are half way to fulfilling their mandate of providing $7.6 billion worth of consumer relief.

Bank’s Offer to Slash Mortgages Gets Surprise Response

As part of the $25 billion settlement over mortgage “robo-signings,” Bank of America offered an average $150,000 reduction in loan balances. More than half the 60,000 offers in the first mailing went unanswered.

Bank of America Offers Principal Reductions to 200,000 Homeowners

A select group of struggling mortgage borrowers are about to get an offer that sounds too good to be true. Executives at Bank of America admit that, as they begin mailing 200,000 letters offering certain customers mortgage principal reduction.

Bank of America Getting Into the Landlord Business

Bank of America, the nation’s second-largest lender, is launching a pilot program this week that will offer a limited number of customers behind on their mortgages to transition from owner to renter.

Fannie Mae Bailing Out Bank of America? Not So Much

Late yesterday the chairman of the House Oversight and Government Reform Committee, Darrell Issa, sent out a press release titled, “Is Fannie Mae’s Purchase of Troubled B of A Portfolio a Back-Door Bailout?” The answer is: No…but let me go back a bit.

Huge Surge in Bank of America Foreclosures

Bank of America is ramping up its foreclosure processing, sending out far more notices of default to borrowers in August than in previous months, well over 200 percent more month-to-month.

Bank of America’s New Year’s Detox

I can’t decide if it’s more like a full-body detox or somehow akin to a new year’s resolution —the part where you recognize what’s wrong in your life and try to fix it, no matter how painful, or, in this case, expensive it may be.

Bank of America’s Big Freeze Chills Housing Recovery

Bank of America extended its foreclosure freeze to all 50 states as it continues internal “assessments” of its foreclosure practices. “Our ongoing assessment shows the basis for our past foreclosure decisions is accurate,” reads their statement.

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