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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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Principle Reductions Being Discussed by State Attorney Generals


Homeowners who are currently being foreclosed on by their lender might be able to get their mortgage loan balance reduced. There is a possible settlement proposal being discussed amongst the attorney generals nationwide. If the banks were to lower the homeowner's loan balances, they in return would "pay less in penalties for foreclosure and mortgage-related wrongdoing".  There is also discussion of another program which would give "funding to states to pay for their own foreclosure-rescue activity."