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Mortgage Principal Reduction – BofA Announces Home Loan Principal Reduction Program

Because defaulting on mortgage loan repayments can lead to foreclosure and the lowering of property values the government decided to implement a program of mortgage principal reduction. This program is designed to assist home owners who are struggling to pay off their loans on time. In a way this is a forgiveness program that pardons borrowers in default, but not as completely as you might be thinking. Read on to find out more about this.

The program being implemented by the bank of America is set to open its doors to the public at the beginning of May this year. It will allow borrowers to reduce the balance on their mortgages to 100% of the value of the loan. What happens is that they will regard a certain percentage of your principal balance to be interest free leniency. In the long run they can then approve the pardoning of 30% of the principal. But this reduction is open to homeowners who do not default on payments for five years.

On top of this interest rates can also be lowered to become as low as 2%. And for those who would like to pay a lot less every month there is the opportunity for them to actually extend the repayment period for the loan. Sometimes banks and lending institutions can extend the repayment period to 40 years.

For you to qualify for reduction you must at least be in a position of hardship. Every application must be accompanied with a letter of hardship that brings to light the extent of your financial problems. Utility bills, insurance policies, pay slips and your mortgage contract are other documents banks would like to see attached to any application.

But you must be careful with modification facilities as they are offered by the different credit institutions. Obviously there will always be that dishonest modification company that charges you a lot more in the long run due to hidden fees and charges. Plus, be wary of affecting your credit score by making an application after having defaulted on payments as this will only dent your score.

Did you know that defaulting mortgage loan repayments can result in foreclosure and even the lowering of property values? Mortgage principal reduction the ultimate solution. Inside info now on

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Download the acoustic version of this song plus 6 others at / / / Official Music Video – best if viewed in HD / / / Shot during Nashville snowfall on January 16th-17th from 11p-3:30a! / / / Video by Nathaniel Schweinberg – (copyright 2011) / / / Lyrics: Music and Lyrics: Copyright 2010 Tyler Somers (BMI), Jennifer Somers (BMI), One Eyed Cat Music (BMI) the problem’s not a gun, not a color, not a hundred dollar bill we think the struggle can be won with simple thoughts like ‘come together be good willed’ the gap between the rich and poor is spreading out all the more or so they say we ignore the claims o my soul, faint not, no faint not | o my soul, keep up, up in love it’s not that we don’t know or we’re not shown the proof of poverty it’s not that we don’t have the tools to go to break this yoke of slavery we quit because it’s not an easy fix and then forget that they are even there we forget to care o my soul, faint not, no faint not | o my soul, keep up, up in love where there is hatred, let me sow love where there is injury, let me pardon where there is darkness, let the Light come, come o my soul, faint not, no faint not | o my soul, keep up, up in love o my soul, faint not, no faint not | o my soul, keep up, up in love faint not faint not ————– Chorus based on St. Paul’s letter to the Galatians 6:9

Question by Shedrack: Anyone, can you help write a LETTER to the Missionaries in my country?
My English is not perfect? Well, it’s not my mother tongue, so pardon me,I just want to see the ideas of the letter to be start.what are the good thing to say them if you have not been in US before.i tried to opportuned my career to work out get US visa, but stil no avail.pls, i would be greatful if does anyone know what exactly am i supposed do this? sorry if border in anyway.

Best answer:

State your purpose and support it with documents to prove your point.

Add your own answer in the comments!
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Third letter to the Rev. R. Shanks, A.M. on sin, and the means of pardon

Third letter to the Rev. R. Shanks, A.M. on sin, and the means of pardon

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(Song 3 of 月光) 千叩首萬叩首祈求上天停息考魔One thousand, ten thousand bows Praying for Heaven to end the trials 日日叩夜夜叩叩求上天開恩寬赦Making bows day and night; Praying for Heaven’s clemency 寬赦無邊的罪過心繫大地徒兒To pardon the unending faults; Concerned for all disciples 不忍見到羔羊迷失醉南柯含淚呼喚眾賢儔Hard to bear seeing how the flock became so lost Hiding tears, calling disciples 一字一句家書投音訊杳杳不見眾回頭Word by word, writing the letter home No response, and they have not returned 想起當年立愿下東州如今忘了許下的承諾Thinking of the vow to come to this world Now the promise has been forgotten 心也捨身也捨頂劫救世色身自囚Giving all of oneself—To hold back the calamities (by self-imprisonment) 心也甘情也願情願犧牲無怨無尤Willing to sacrifice—Without complaints or grievances 情願潛隱背黑鍋換得道務開拓Most willing to take the blame—To let Dao propagate widely 寒風刺骨受屈受辱莫須有一肩擔起受折磨Wrongly disgraced, like cold wind biting to the bone Yet enduring the torment 一心一意不退縮蠟炬成灰堅持到最後Fearlessly and wholeheartedly, Persevering to the very end (like candle burning to ash) 想起三曹責任身擔荷挑起使命毅然向前走Thinking of the salvation mission— Bear the mission, firmly stride forward 望徒歸盼徒修行功立德佳期把握Hope disciples cultivate—Don’t wait, establish virtues and merits 苦海流駕金舟代勞分憂渡盡九六Propagate Dao to the world; Share the duty to save all souls 上蒼道劫降娑婆處處天災人禍Heaven descended Dao to save the world from

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18 Responses to “Mortgage Principal Reduction – BofA Announces Home Loan Principal Reduction Program”

  • SheSpeaksWithWisdom:

    WHO could dislike this?!?! I literally love you guys SO MUCH!!!!
    God bless you!!

  • Jess12787:

    I happened to stumble upon them this weekend, and got to hear them live! Now they are one of my new favorites!

  • Roadtoalberta:

    Hebrews 12:1. 🙂 Jesus loves you! Blessings!

  • matt boender:

    “marissaroseful” I just want to let you know im praying for you. Jesus has changed my life. I struggled with unbelief for a while, but God has truly revealed to me that he is alive, and I hope and pray you will be able to experience his amazing love and that I will be able to see you in heaven :)

  • eslgateways:

    Why are you guys running in this video? I don’t get it?

  • emiliobasa:

    Great job on the song! Thanks for posting this. I love writing my own songs and I’m looking for new fans. If you have the time, check out my latest video.

  • marissaroseful:

    I think people of any denomination can appreciate this music – I know I do, and I’m an atheist. Social justice for all is an issue everyone should get behind.

  • honchoatdcrp:

    Absolutely top billing talent. My prayer for you is that you will strive to be the exception in this “American Idol Syndrome Generation”. My you be blessed with a Love for the Lord that causes you to do all that you can do, through the obvious gifts He has given you, to place Him center stage and shine the limelight of Praise onto Him while giving His Love top billing. What a blessed opportunity you have before you.

  • smilepop9923:

    I Love This Song ! Ya’ll Are So Great ! I Saw You Perform In Chattanooga , Tennessee !(:

  • audreyassad:

    Forgot how much I love this song!

  • bythewellband:

    This song makes me want to live more like Christ. And it inspires me to continue writing songs for Christ too. 🙂 Thank you Jenny and Tyler for writing this amazing song and so many others too.

  • PigwallProductions:

    I think its safe to say that Tyler is the luckiest man alive. Jenny is the exact definition of adorable.

  • Besstofme:

    wonderfull song

  • RetainerBright:

    4:02 My heart melted.

  • loveMYhunnyBunny:

    This song speaks to me. It’s beautiful. Thank you for that 🙂

  • twigboy148:

    No way! At 35 seconds in its the exact same balloon from their new music video “Little Balloon.” Talk about foreshadowing!

  • lalamarthe:

    very touching, 3:57 -> a tear

  • stisa123:


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