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Foreclosure Fraud Settlement: Deal Or No Deal [With Audio Interview]

Today there were reports of an agreement between the nation's five biggest banks, a number of state Attorneys General, and several Federal agencies. The specifics weren't available, but the agreement appeared to settle a number of potential civil and criminal charges for an amount that ranges between $19 billion and $25 billion. By contrast, the total estimated mortgage loan amount being repaid to banks for housing value that no longer exists is $700 billion, and that figure hasn't been adjusted for further declines in the real estate market.
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