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States Negotiate $26 Billion Deal for Homeowners

Date: February 8, 2012
Authors: Nelson D. Schwartz and Shaila K. Dewan
QUOTE: After months of painstaking talks, government authorities and five of the nation’s biggest banks have agreed to a $26 billion settlement that could provide relief to nearly two million current and former American homeowners harmed by the bursting of the housing bubble, state and federal officials said. It is part of a broad national settlement aimed at halting the housing market’s downward slide and holding the banks accountable for foreclosure abuses.

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