Federal, state officials reach $25B foreclosure-abuse deal

Relief may be in sight for thousands of Bronx residents struggling to make their mortgage payments. Federal and state officials today announced a $25 billion

THE BRONX - Relief may be in sight for thousands of Bronx residents struggling to make their mortgage payments.

Federal and state officials today announced a $25 billion foreclosure-abuse settlement with the nation's biggest mortgage lenders, including Bank of America, Citigroup, Wells Fargo and J.P. Morgan.

The banks have agreed to reduce loans for millions of homeowners. In addition, nearly one million people who were improperly foreclosed upon can expect to see $2,000 checks.

advertisement | advertise on News 12

Trending Video

Police say they want to talk to a 1 Police: Man wanted for questioning in Bronx burglary pattern
Bronx Weekend Travel Advisory, Dec.10-11 2 Bronx Weekend Travel Advisory, Dec.10-11
3 VIDEO: Suspect in Sheridan Avenue murder escorted by police
The students at The Bronx Academy for Software 4 Local school celebrates Computer Science Education Week
The Buzz: sisters killed in radiator malfunction 5 The Buzz: sisters killed in radiator malfunction

advertisement | advertise on News 12

Features

Furry Friends is a weekly segment on News Furry Friends

Furry Friends is a weekly segment on News 12 The Bronx nightside.

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE