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More Homeowners Get Mortgage Principal Reduced, but Numbers Still Small

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  • William Matz | | 27 Jun 2012, 04:38 PM Agree 0
    Several of my clients have gotten principal forgiveness and/or principal forbearance over the last two years. In some cases the principal forgiveness is phased over three years. Recently, we have begun to see unsolicited forgiveness of underwater 2ds; this may be the result of the AG settlement.

    One client got a $400,000 principal forbearance for 40 years!
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