Foreclosed Familes Get only $1,000 for Bank Mortgage Abuses

<strong>Foreclosed Familes Get only $1,000 for Bank Mortgage Abuses</strong><br /><p>Ten major banks last week agreed to pay out $8.5 billion to settle allegations that they engaged in abusive foreclosure practices in 2009 and 2010. Of the settlement money, $3.3 billion will go to homeowners whose homes actually went into foreclosure. The remaining $5.2 billion will be used for loan modifications and other relief. Some 3.8 million homeowners were eligible for the review,

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