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White House: $25 billion mortgage settlement for homeowners

02-10-2012 09:52 BJT

Five big U.S. banks on Thursday reached a 25 billion dollars deal with 49 U.S. states and the federal government to end a probe of abusive foreclosure practices stemming from the collapse of the housing bubble. Full Story>>

Traders work the floor of the New York Stock Exchange on February 8. News of a
long-awaited deal on Greece's debt and multi-billion dollar settlement between
US states and major banks over shoddy mortgage foreclosure practices sent US
stocks higher on opening.

U.S. President Barack Obama gives details of the $26 billion deal to settle
charges of widespread mortgage fraud by some of the nation's largest banks
in the Eisenhower Executive Office Building on the White House complex in
Washington, February 9, 2012.

A foreclosed home stands boarded up in Islip, New York. President Barack Obama and
top US mortgage lenders unveiled a landmark $25 billion deal Thursday to help
struggling homeowners get back on their feet and to untether the moribund housing market.

U.S. President Barack Obama gestures while he talks
about the details of the $26 billion deal to settle
charges of widespread mortgage fraud by some of the
nation's largest banks in the Eisenhower Executive
Office Building on the White House complex in
Washington, February 9, 2012.

 

Editor:Liu Yan |Source: CNTV

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