US Banks Agree Foreclosure Settlement Worth $26 Billion

The US government has just announced a deal with five of the country’s biggest banks that will see homeowners given more than $25 billion as part of a settlement over foreclosure abuses.

Foreclosure Settlement between Banks and Government “Very Close”

As many as one million underwater borrowers deemed to be “at risk” of losing their homes could be set for a reprieve through a reduction on their mortgage principle, following reports that the government and America’s biggest banks have nearly reached a deal on mortgage aid.

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