In a big change, the state-run Keep Your Home California program will use federal money to reduce an eligible homeowner’s mortgage balance by up to $100,000 without requiring a matching reduction by the bank servicing the loan. Many more underwater California homeowners will get principal reductions when the change takes effect in early June, but … Continue reading "Firenze Sage: Free money to the undeserving [100 K principal reductions for CA homes]"