Greece and Foreclosure Agreements Announced

There were many deals being agreed upon this morning. Over in Greece, it has been reported that they have finally agreed on a debt swap deal, including new austerity measures, and avoiding a near-term, very disorderly marketGreece and Foreclosure Agreements event. The European market soared today, hitting levels it hasn't seen since December 2011.

In closer news, an agreement has been finalized with five large banks, Ally Finance, Bank of America, Citigroup, JP Morgan Chase and Wells Fargo, to settle alleged foreclosure abuses. This $26 billion deal is the largest government vs. business settlement since the tobacco lawsuits back in 1998. It's expected to include $1.5 billion in cash payments to borrowers who were foreclosed between September 2008 and December 2011, but more importantly, to help thousands of homeowners who currently have loans, but own more than their homes are worth.

Click here for more information on the Foreclosure Agreement.

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Chad Ronning

VP of Mortgage Lending

C: (612) 250-1544

Chad.Ronning@GuaranteedRate.com

www.GuaranteedRate.com/chadronning

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Chad Ronning - FHA, VA, USDA, Home Path

Maple Grove, MN

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Nationstar Mortgage

Address: 6445 Sycamore Ct , Suite 103, Maple Grove, MN, 55369

Cell Phone: (612) 250-1544

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My goal is to articulate my opinions on mortgage and real estate related news and reports.


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