—————– …one has to wonder if they’ve sent them out to everybody, and whether or not every borrower is getting the opportunity to apply for a principal reduction. I wonder if there’s not some kind of program going on behind the scenes where the govt is going to guarantee more than they are publicly admitting for losses on principal reductions. BAC would only have an incentive to mail these out to everyone if somebody (govt?) was making an offer they can’t refuse, IMHO.
Congrats…you did call it. However, this just tells me that things are not as good as the media and the government is leading us all to believe. Makes me wonder if more and more people aren’t starting to walk away. If people begin to walk away en masse, these banks will be screwed and they know it.
