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Fixing the housing market: What to expect from Obama’s SOTU speech

Posted on 25 January 2012

President Barack ObamaWhat’s President Obama’s plan for getting the housing market back on track? Look for proposals—but not necessarily solutions—in tonight’s State of the Union address.
On Monday, government officials announced that a $25 billion settlement to help troubled homeowners refinance or reduce the principals owed was close to becoming a reality. Five major banks—Bank of America, Wells Fargo, Citibank, JPMorgan Chase, and Ally Financial—are currently in negotiations with U.S. state attorneys general to reach a settlement that would aid Americans hurt by foreclosure wrongdoings and deceptive lending practices on the behalf of the banks………………………………………..Full Article: Source


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