| What’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 |