States aim to settle bank foreclosure issues within 2 months

03/7/2011 | Bloomberg

State attorneys general are pushing banks to lower loan balances as they work toward a settlement over mortgage-servicing and foreclosure procedures. "The result we come to can have an impact on the housing market and the economy," said North Carolina Attorney General Roy Cooper. "We don't want uncertainty to linger very long." Iowa Attorney General Tom Miller said a proposal from the states and federal agencies is a starting point for negotiations.

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