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Published: 5/9/2012

Bank of America to cut balances on home loans

CHARLOTTE — Bank of America said Tuesday it has begun mailing out letters to customers who may qualify to have their home loans reduced as part of a multistate settlement over alleged foreclosure abuses.

The Charlotte-based company estimated that more than 200,000 of its customers potentially could be in line for a reduction in the principal balances on their mortgages.



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