Banks agree to $25B foreclosure settlement

Alabama has joined a $25 billion joint state-federal mortgage servicing settlement with the five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses that took place after the housing bubble burst. The agreement could provide an estimated $106.7 million in direct relief to Alabama homeowners and also addresses future mortgage loan servicing practices, according to a news release from the Alabama Attorney General’s office. The federal government and 49 states, excluding

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