Will the settlement money be enough?
Share Now on:
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.
Marketplace is on a mission.
We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.
Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?