Countrywide Settles with 11 States

214059 Resource 199230 199384 199384 1223497970014 1223497970014 Controlled Countrywide Settles with 11 States

Major Milestone

Countrywide Home Loans has settled lawsuits filed by the Attorney General of 11 states.This settlement is a major milestone as the 1st mandatory mortgage workout program in the <country-region /><place />United States</place /></country-region />.As part of the settlement, Countrywide, which is now owned by Bank of America, will re-negotiate mortgages so they do not exceed 32 percent of a family's household income. Also as part of the deal, Countrywide foreclosures will be suspended.The deal helps more than 11,000 people in <state /><place />Illinois</place /></state />.See below for a link to the story and to view the video as it aired on local television 9 application/xml false bank of america countrywide countrywide home loans illinois attorney general lisa madigan loan workout mortgage workout stop foreclosure chicago stop foreclosure illinois Countrywide Settles with 11 States http://abclocal.go.com/wls/story?section=news/local&id=6434584 Mozilla/4.0 (compatible; MSIE 7.0; Windows NT 5.1; Mozilla/4.0 (compatible; MSIE 6.0; Windows NT 5.1; SV1) ; Embedded Web Browser from: http://bsalsa.com/; .NET CLR 2.0.50727; .NET CLR 1.1.4322) 127.0.0.1 127.0.0.1 wdiehl 72.244.156.49 false true false false true 199303 false false true false false false true 199230 blog blogsite/RepoHomeTourChicago/web