BofA Subsidiary Agrees to $3 Billion Home Loan Modification Deal
Massachusetts Attorney General Martha Coakley has brokered a $3 billion loan modification deal with Bank of America subsidiary Countrywide Financial Corp. The settlement builds on Countrywide's 2008 agreement with 43 other state attorneys general and the District of Columbia, which called for Countrywide to modify loans for certain delinquent borrowers and builders. In a statement, Coakley noted that the settlement would be used to reduce the principal owed by some homeowners. BofA Subsidiary Agrees to $3 Billion Home Loan Modification Deal
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