Almost All States Sign on to Massive Mortgage Settlement
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Updated: 12:26 PM Feb 7, 2012
Almost All States Sign on to Massive Mortgage Settlement
More than 40 U.S. states have agreed to a nationwide settlement over foreclosure abuses.
Posted: 12:17 PM Feb 7, 2012
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More than 40 states have signed on to a settlement deal with the nation's five biggest mortgage lenders.

The deal would force the banks to reduce home loans for about one million homeowners.

The lenders would also have to send checks of approximately two thousand dollars to hundreds of thousands of people who lost their homes to foreclosure.

The settlement was reached after the lenders admitted to abusing foreclosure practices.
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