Posted on: 03rd Aug, 2012 12:37 am
Is it easier now to get principal reductions? Will the lender accept such requests?
Hi Jordyn,
It will be completely the discretion of the lender whether or not he will consider your request for a principal reduction.
It will be completely the discretion of the lender whether or not he will consider your request for a principal reduction.
Jordyn. I agree with Adonia. In addition, principle reductions are extreamly rare. I have seen them a bit more now that settlements have been reached with some of larger lenders. The biggest participator of the at this time is Bank of America, but it's still up to the lender to decide if they will offer one and how much.
Juan
Juan
Thanks for sharing your opinion, Juan!! :)