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Help Is On The Way!

In Uncategorized on October 24, 2011 at 8:00 am

From Reuters:
Talks between U.S. states and top banks over mortgage abuses are nearing agreement on resolving a major sticking point that has bogged down settlement negotiations for more than a year.

A deal could be reached by the end of the month, according to three people familiar with the talks.

Under the proposed terms of the settlement — which could total $25 billion — banks would get a broader relief from potential state civil lawsuits in exchange for refinancing underwater loans, those mortgages where borrowers owe more than their homes are worth, the sources said.

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