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Monday, 28-Jul-2014 13:37 Email | Share | Bookmark
Bank Of America Offers $13 Billion To Settle Mortgage Probe - Th

Lawyers for Bank of America had requested the meeting, which took place in Washington, but it ended with no progress made toward a final deal, people familiar with the discussions said. The bank wants most of the deal to be in soft money, where it gets credit for modifying mortgages for struggling homeowners and other moves that benefit customers in financial distress, while the Justice Department wants the Bank of America to significantly increase its offer on the cash penalty portion, they said. If a deal can't be reached, the U.S. would have to decide whether to file a lawsuit. <br>visit http://www.denverpost.com/realestatenewsold/ci_26162663/bank-america-offers-13-billion-settle-mortgage-probe?source=rss

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