President Barack Obama announced the finalization of $26 billion, as of now, but it is expected to reach above $30 billion,among mortgage providers, the state attorney generals and the Justice Department. This is the largest joint settlement in American history. Obama said this is a landmark settlement among the country’s largest banks. This unprecedented, nationwide deal is expected to help two million homeowners and mortgage holders who lost their homes in the “robo-signing” scandal. Obama hopes this settlement will be just for those affected by the scandal. The negotiations with the mortgage providers are ongoing. The deal’s critics have claimed that the amount is too small to help the victims. Though new, the deal is still undergoing negotiations. #
President Obama announces mortgage settlement
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