memeorandum: Bank of America Starts Mortgage Reduction Effort (Natasha Singer/New York Times)

Natasha Singer / New York Times:Bank of America Starts Mortgage Reduction Effort  —  Bank of America has started sending letters to thousands of homeowners in the United States, offering to forgive a portion of the principal balance on their mortgages by an average of $150,000 each.  —  The reduction for qualifying homeowners …