B. of A. to forgive principals on some mortgages

weigoodone01

By Sue Chang

17.8017.6017.4017.2017.00
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SAN FRANCISCO (MarketWatch) -- Bank of America (BAC 17.59, +0.46, +2.69%)  said Wednesday that it will look into principal forgiveness before considering an interest rate reduction for certain subprime, Pay-Option and prime two-year hybrid mortgages that qualify for its National Homeownership Retention Program. The bank will also introduce an earned principal forgiveness plan to modifying mortgages that are severely distressed. "The program changes are designed to encourage greater customer participation in the company's aggressive homeownership retention programs, including our continued strong commitment to the federal government's Home Affordable Modification Program," Bank of America said in a statement. Shares of the national bank were up 2.8% to $17.60.

dividend_growth

这要根据银行的盈利能力来决定，是有名额的。

Great Depression后，40-50%的mortgage和地方债务都报废了。