Bank of America Runs Ad Touting Foreclosure Program

On Sunday October 26th, Bank of America ran an ad in the New York Times which claims the company will be offering $11 billion in mortgage loan payment reductions for "customers in trouble". They are hoping that these funds will enable over $100 billion in loan modifications resulting in "630,000 borrowers" remaining "in their homes".

Let's hope that this boils down to real relief for beleaguered home owners.