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Will the settlement money be enough?

David Brancaccio Feb 9, 2012

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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