amount if it is within $1,000 of the actual maximum amount. (bb) Positive net present value calculation A net present value calculation shall be deemed to be positive for the mortgage investors if the net present value result for an affordable loan modification scenario is greater than the net present value result if no affordable loan modification is made. Net present value shall be calculated as the benefit of all investors in a securitization rather than the benefit of any particular class of investors. (V) Principal forgiveness (aa) Treatment of principal reduction amount Any amount of principal reduction under subclause (II) shall be treated as noninterest-bearing principal forbearance until the dates described under item (bb). The principal reduction described in this clause shall be deemed to be separate from and exclusive of any other forbearance that may be offered in conjunction with a modification under an affordable loan modification program. (bb) Reduction of principal The servicer of a mortgage modified under an affordable loan modification plan shall reduce the unpaid balance of the principal of the mortgage by an amount equal to 1⁄3 of the total amount of the principal reduction under subclause (II) on each of the following dates: (AA) The date that is 1 year after the date on which the affordable loan modification begins. (BB) The date that is 2 years after the date on which the affordable loan medication begins. (CC) The date that is 3 years after the date on which the affordable loan modification begins. (VI) Certain modifications With respect to a borrower that is not underwater and does not qualify for principle reduction, the servicer shall offer such borrower an affordable loan modification to reach the target affordable regular mortgage payment amount, if the borrower qualifies. (E) Treatment of junior liens With respect to a borrower, if a primary mortgage loan is modified pursuant to this paragraph, the servicer of any junior mortgage loan shall offer to modify or extinguish the second