InvestorCentric: The Short Sale Dilemma For Banks
By NuWire Investor
The message paints an interesting picture of a potentially hidden angle to the recent short sale push by the Administration, banks, and Realtors: a renewed call for broad principal forgiveness. ... I suspect, in fact, that this is part of the reason some large commercial banks—Bank of America (BAC: 15.24 -1.17%) among them as of late—are working feverishly to get in front of this end game, announcing principal reduction programs that are great press exposure, ...
InvestorCentric - http://investorcentric.blogs.nuwireinvestor.com/
Will the Push for Short Sales Lead to Deeper Principal Mods ...
By Yves Smith
he message paints an interesting picture of a potentially hidden angle to the recent short sale push by the Administration, banks, and Realtors: a renewed call for broad principal forgiveness. ...... I teach our agents to understand that short sales are principal reduction programs. Same house, new loan terms, different borrower. If the lender is going to face a situation where they cannot escape a principal reduction, why would they extend it to a borrower who is already ...
naked capitalism - http://www.nakedcapitalism.com/

Web 3 new results for Principal Reduction, Principal Forgiveness

Testimony to the United States House of Representatives - Bank of ...
Treasury has also announced a similar principal reduction program which includes an earned principal forgiveness concept that will be effective later this ...
newsroom.bankofamerica.com/index.php?s=63&item=244
Aid on way to help homeowners | Business | PE.com | Southern ...
Another limitation of the principal reduction program is that it will only lower ... Principal reductions will not be available to borrowers who refinanced ...
www.pe.com/rss/business/.../PE_Biz_D_treasury24.14b7bf3.ht...
The Slippery Slope of Short Sales - HomeGain
the write down of mortgage principal to “short sale levels. ... buying distressed whole loans are already forgiving significant amounts of principal, because they ... Wide-scale principal reduction for these banks means recognizing ...
www.homegain.com/.../The-Slippery-Slope-Of-Short-Sales?...