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Mortgage settlement: not enough relief
Almost a year after five big banks signed a $25 billion national mortgage settlement with 49 state attorneys general last February, too few families are getting relief, too many of those getting some help continue to lose their homes to short sales, and we still don't have the data we need to know whether the communities hit hardest by the foreclosure crisis are getting the help they need. To make the settlement fulfill its promise, the banks need to step up the pace of principal reductions, and federal regulators need to do much more to help working families save their homes.
By Marceline White
December 11, 2012