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Will the settlement money be enough?
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Will the settlement money be enough?
Back to the numbers on this expected settlement with banks over bad foreclosures.
$26 billion is quite a figure, but it may not seem so big when you break it down.
Under the plan, about a million people will owe less on their mortgage. Beyond that, three-quarters of a million people who already lost their house will eventually get a check for about $2,000.
We checked and that does cover moving expenses, kinda, sort of. According to some online cost-of-moving calculators, two grand might just cover the cost of moving a tiny condo across my town in the East.
Moving a three-bedroom house from, say, New Jersey to Wichita costs about four times the settlement money.
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