New Efforts to Help Struggling Homeowners

Podcast Episode Summary

Following the 2008 housing crisis, banks across the country foreclosed on borrowers. To speed up the process, some lenders used fake signatures or didn't bother to verify the accuracy of loan documents. A pending multi-billion dollar settlement between the banks and 40 states would ban so-called "robo-signing" and require banks to lower principal payments for "underwater" mortgages. Consumer advocates worry the settlement would not go far enough. Business groups say the market would do a better job clearing foreclosed homes. Diane and her guests discuss efforts to help struggling homeowners.