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As part of a settlement with state attorneys general that could be worth as much as $8.6 billion, Bank of America Corp said on Monday it would cut interest rates and principal on some troubled.
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Bank of America’s (BAC) move to settle federal charges that its Countrywide unit gouged homeowners facing foreclosure should mark the beginning, not the end, of a full-blown government crackdown.
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By GRETCHEN MORGENSON Published: October 5, 2008 Countrywide Financial has agreed to the largest program ever to modify home loans, as part of a settlement with officials in 11 states, just days after the federal government adopted a giant financial rescue package without any relief for distressed homeowners.
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Read more For more info on Countrywide see earlier blog: 11 States and $8 Billion Settlement; Countrywide Foreclosures Suspended, Mortgages to be Modified Men and women in the South had higher rates of divorce in 2009 than in other regions of the country, 10.2 per 1,000 for men and 11.1. than $10 billion it lost on mortgage investments, and also.
11 States and $8 Billion Settlement; Countrywide Foreclosures Suspended, Mortgages to be modified 0 bofa in $8.6 bln settlement over Countrywide loans – As part of a settlement with state attorneys general that could be worth as much as $8.6 billion, Bank of America Corp (BAC.N: Quote, Profile, Research, Stock Buzz) said on Monday it would cut interest rates and principal on some troubled mortgages originated by Countrywide Financial Corp.
BofA in $8.6 billion settlement over Countrywide loans. representing 11 states in which it will offer more affordable and sustainable mortgage payments for borrowers who had financed their.