Relevant:
- BofA offers 30,000 borrowers $4.75 billion in principal reductions
- Mortgage Settlement Yields $50B of "Aid"; But Not All Aid Dollars Equal
- OCC Defends $8.5B Foreclosure Settlement, Claims It Drove Hard Bargain
- Banks report $51 billion in consumer relief in mortgage settlement
- Chase offers no doc refis, principal reduction
2012-10-02 — americanbanker.com
``The settlement focuses primarily on helping distressed borrowers still in their homes. At least $17 billion of the $25 billion in relief advertised is earmarked for principal reductions and loan modifications. Three billion dollars is for refinancing "underwater" homeowners. Only $1.5 billion will go to homeowners hurt by a foreclosure finalized between Jan. 1, 2008 and Dec. 31, 2011.''
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