Foreclosure settlement won't be a quick fix for housing market

State and federal government officials reached a $25 billion settlement with major banks over foreclosure issues. The deal will provide some relief to troubled borrowers and could help the economic recovery. However, it isn't expected to be a panacea for the housing market. "It is frankly a headline victory for both banks and attorneys general with a modest impact on the housing market," said Joshua Rosner, managing director at Graham Fisher & Co.

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