Housing and Urban Development Secretary Shaun Donovan told a conference of mayors today that the government is near a settlement with lenders related to foreclosure policies and practices. Donovan said that about 1 million borrowers can expect to see reductions in their mortgage principle and that some borrowers will “get direct compensation as a result of the settlement.”
Settlement Near on Mortgage Reductions
By
Paul Ausick
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About the Author
Paul Ausick →
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
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