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Will the President's Announcement About A Settlement with Five Major Banks Solve the Mortgage Crisis?

02/13/12 Robert Lorei
Radioactivity: Live Call-In (Monday)
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Good morning, welcome to Radioactivity. I'm Rob Lorei. Last Thursday a record $25 billion settlement was announced between the government and five big U.S. banks accused of abusive mortgage practices.

Checks of up to $2,000 each are expected to reach 750,000 households who lost homes through the foreclosure process between 2008 and 2011.

As part of the deal, the banks also agreed to cut the amount of principal owed by homeowners and provide lower-interest rate loans to the tune of $17 b...

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