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Bank of America Offers Mortgage Help to the Military
March 11th, 2011 5:25 PM

 Bank of America, the nation's largest bank, announced new plans on Thursday intended to keep military families from losing their homes to foreclosure.

The new programs come as big banks face scrutiny over their foreclosure filings and an overhaul of the foreclosure system looms. The bank said its new programs would offer mortgage principal reductions for some military borrowers who have fallen behind on their payments.The plans also call for a reduced 4% interest rate on mortgages for those eligible under the Servicemembers Civil Relief Act.

I hope you find this information helpful!

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Posted by Teresa Molina on March 11th, 2011 5:25 PMPost a Comment

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