Commentary: Treasury may mimic BofA modification program:

03/25/2010 | CNBC

A Bank of America program to reduce the principle on mortgages that are underwater is so targeted it will only affect about 45,000 customers, CNBC real estate reporter Diana Olick writes in a commentary. The Bank of America program was announced on the same day as a report on the effectiveness of the Troubled Asset Relief Program blasted a portion of the program that was aimed at modifying loans for troubled borrowers. "The reason this program is so important, though, is because we know something is in the works over at Treasury to do something like it," Olick writes.

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