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by EYDER PERALTA
Last February, five major banks came to an agreement with the United States government that would provide $26 billion in mortgage relief aid to homeowners.
Today, the program's administrator issued its first report and it found that Bank of America, which was responsible for the biggest portion of the agreement, hasn't modified a single first-mortgage.
snip
The Wall Street Journal reports that overall, however, the five banks "wiped out nearly $1.3 billion in mortgage principal through loan modifications."
by EYDER PERALTA
Last February, five major banks came to an agreement with the United States government that would provide $26 billion in mortgage relief aid to homeowners.
Today, the program's administrator issued its first report and it found that Bank of America, which was responsible for the biggest portion of the agreement, hasn't modified a single first-mortgage.
snip
The Wall Street Journal reports that overall, however, the five banks "wiped out nearly $1.3 billion in mortgage principal through loan modifications."
