Great news for Bank of America home loan holders. As part of a deal the U.S Government made with the major lenders, BofA will make an effort to reduce the financial hardship of their borrowers who are caught in an “upside down” situation (where the balance of their loan exceeds the value of their home). BofA has already started mailing out notification of payment reduction to qualified customers–an average of 30 % in contractual payment will be forgiven. According to this Forbes article, qualified borrowers would be someone who are at least 60 days behind on their payments since the beginning of this year. I understand this is a part of the “foreclosure” settlement, but I wonder how other borrowers who were almost qualified for this program would feel about this news. Especially those whose home payments are more than 25% of their gross household income, and their loan amount exceeds the value of their home today. These borrowers are struggling to make their payments on time, but their diligence disqualifies them this “rescue.”

I would like to hope that help will be on the way for them as well.

バンク・オブ・アメリカのローン保持者に好報です。アメリカ連邦政府と大手金融機関との間で交わされた取り決めで　現在アメリカの住宅事情低迷のため　貸し付けのローン額が現在の不動産価格より上回るいる状況の顧客に　経済的に補助をするというものだ。バンク・オブ・アメリカではもうすでに条件に当てはまる顧客には今週より郵送でローン返済額の減価の知らせを出し始めた。平均にして３０％の減価。フォーブスの記事によると、条件としては今年に入って少なくとも６０日以上月ローン返済が遅れている等がある。