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Released: February 07, 2012
Foreclosure deal doesn’t go far enough
Source: Brady Dennis, Washington Post (Free Registration)
As state and federal officials near completion of a settlement with banks over shoddy foreclosure practices, a question that has loomed over the talks for months remains: Is it a good enough deal?
After nearly 500 days of drawn-out negotiations, public infighting and private cajoling, the emerging settlement would force banks to overhaul their mortgage-servicing practices. It could also require the banks to pay as much as $25 billion in penalties that would be put toward helping struggling homeowners and borrowers who lost their homes to foreclosure in recent years.
Read Full Article: Foreclosure deal doesn’t go far enough
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