Foreclosure Settlement Imminent?




Fox Business has learned that the potential $20 billion settlement by the big banks over improper foreclosure practices may be announced as early as this week. In the video below, reporter Elizabeth MacDonald explains how the deal -- which she likens to the BP oil-spill relief fund -- would work.

The plan is for banks to pay money into the fund, which would be used to provide loan relief. But the proposed settlement has already been rejected by California's attorney general, and there are many "sticking points" still to resolve, MacDonald says. "The whole deal is still very fluid."


Also see:
California Pulls Out of 'Inadequate' Foreclosure Settlement
Viewpoint: Kamala Harris for President


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