HOUSING: San Diego and Riverside counties to get $3.1 billion in mortgage settlement
The settlement between 49 state attorneys general and the five banks puts to rest a monthslong negotiation over the banks' procedural problems with foreclosures. The agreement provides some legal releases for lenders' bad practices, and provides mortgage relief ---- in particular, principal reduction ---- for homeowners who owe more in loans than their properties are worth. California will get $18 billion, or 72 percent, of the total settlement.
Read more: HOUSING: San Diego and Riverside counties to get $3.1 billion in mortgage settlement
Now just what is it about California that makes it more deserving of our money than any other state?
The settlement between 49 state attorneys general and the five banks puts to rest a monthslong negotiation over the banks' procedural problems with foreclosures. The agreement provides some legal releases for lenders' bad practices, and provides mortgage relief ---- in particular, principal reduction ---- for homeowners who owe more in loans than their properties are worth. California will get $18 billion, or 72 percent, of the total settlement.
Read more: HOUSING: San Diego and Riverside counties to get $3.1 billion in mortgage settlement
Now just what is it about California that makes it more deserving of our money than any other state?