Thursday, February 21, 2013 3:48 pm
News Summary: 5 US banks cut mortgage debt by $19B
By The Associated Press
HALF A MILLION STRONG: More than 550,000 borrowers received some form of mortgage relief between March 1 and Dec. 31, 2012. That translates to an average of about $82,668 per homeowner.
BIGGEST REDUCERS: Of the roughly $19 billion in reduced mortgage principal, Bank of America Corp. provided $13.5 billion; JPMorgan Chase & Co., $1.8 billion; Citigroup Inc., $1.9 billion; Wells Fargo & Co., $1.4 billion; and Ally Financial Inc., $238 million.