BofA's mortgage-reduction plan could start a trend

In one of the boldest steps to address housing woes, Bank of America will slash the balance on mortgages by as much as 30% for many struggling borrowers. BofA's move could make it easier for the government to push other banks to offer similar debt reduction. However, industry insiders and senior government officials are still not convinced that reducing mortgage balances is the best way to help borrowers.

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