 b of a offering principal reductions bank of america is sending out letters to 200000 struggling homeowners offering them a reduction in the principal amount of their mortgage if they meet qualifying criteria this deal is the result of a settlement between state and federal agencies and the five largest mortgage services over fraudulent foreclosure document processing socalled ldquo robosigning rdquo who will qualify read more at  wwwcnbccom id 47331680  offering principal reductions  