Monday, March 12, 2012

$25 billion mortgage settlement formally filed

After weeks of delay, the $25 billion mortgage settlement between the five largest servicers and a consortium of state attorneys general was filed in federal court Monday.

Banks' annual reports had already laid out some of the details of the blockbuster agreement, but the formal document provides more information on the mechanics of the settlement announced last month.

North Carolina's take is $338 million in the settlement, the majority in the form of principal reduction or other help for struggling homeowners.

Check in the next few hours for more details.

Read more here:


Dolley said...

This settlement is an INSULT to all the folks defrauded by the banksters, and to America. For a REAL explanation, see real scoop Matt Wiedner's blog: