Home Must Reads States, banks reach foreclosure agreement

States, banks reach foreclosure agreement

| Print |  Email
Must Reads
Thursday, February 09, 2012

U.S. states reached a $25 billion deal with mortgage lenders over foreclosure abuses after the housing bubble burst.

Federal and state officials announced the deal Thursday. It is the biggest settlement involving a single industry since a 1998 multistate tobacco deal.
Under the agreement, five major banks — Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial — will reduce loans for nearly 1 million households. They will also send checks of $2,000 to about 750,000 Americans who were improperly foreclosed upon. The banks will have three years to fulfill the terms of the deal.
All but one of the 50 states agreed to the deal. Oklahoma, the lone holdout, will receive no money.

Read more at OregonLive.com.

{biztweet}foreclosure deal{/biztweet}

 

 

More Articles

Molecular Movies

September 2014
Wednesday, August 27, 2014
BY LINDA BAKER

Dr. Chong Fang isn’t God. But the assistant professor of chemistry at Oregon State University is getting closer to figuring out how he put everything together. 


Read more...

OB Poll: Wineries and groceries

News
Friday, October 24, 2014

24-winethumbA majority of respondents agreed: Local vineyards should remain Oregon-owned and quality is the most important factor when determining where to eat or buy groceries.


Read more...

Two Sides of the Coin

Contributed Blogs
Wednesday, October 22, 2014
22 twosidesBY JASON NORRIS

Historically, when the leaves fall, so do the markets. This year, earnings, Europe, energy and Ebola have in common? Beyond alliteration, they are four factors that the investors are pointing to for this year’s seasonal volatility.


Read more...

What I'm Reading

September 2014
Wednesday, August 27, 2014

Kim Ierian, President of Concorde Career Colleges, and Deborah Edward, Executive Director of Business for Culture & the Arts, share their recent reads.


Read more...

Launch

September 2014
Tuesday, August 26, 2014
BY JESSICA RIDGWAY

September's Launch article features Orchid Health, BuddyUp and Inter-Europe Consulting.


Read more...

Powerlist: Colleges and Universities

September 2014
Wednesday, August 27, 2014
BY KIM MOORE

A conversation about higher education with the presidents of the University of Oregon and Clackamas Community College, followed by September's powerlist.


Read more...

True Blood

October 2014
Thursday, September 25, 2014
BY JOE ROJAS-BURKE

Antibiotics really aren’t magic bullets.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS