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AP - The mortgage settlement that government officials announced Thursday is intended to help victims of foreclosure abuses that followed the housing bust.
ContributorNetwork - According to the Associated Press, Illinois Attorney General Lisa Madigan announced Illinois would receive about $1 billion in a settlement involving five of the biggest mortgage lenders. The settlement involves numerous other states, which are to receive $25 billion from Ally Financial, Bank of America, Citigroup, JPMorgan Chase and Wells Fargo.
AP - On Thursday, 49 states reached a $25 billion deal with the nation's biggest mortgage lenders over foreclosure abuses that occurred after the housing bubble burst.
AP - The average rate on the 30-year fixed mortgage stayed at a record low this week, providing some added incentive for those looking to buy a home or refinance.
Reuters - The Federal Reserve announced on Thursday it has reached an agreement with five U.S. banks on penalties totaling $766.5 million over problems in their mortgage servicing businesses as part of a larger $25 billion foreclosure deal struck between the banks and state and federal agencies.
