Housing Market

Bank of America’s $10 Billion Settlement in Housing Meltdown

Article image

Bank of America announced their settlement deal on Monday, which will cost the bank about $10 billion after the recent housing market meltdown. The bank will pay back more than $3 billion to Fannie Mae and buy back about $7 billion in loans it sold to the government agency from Jan. 1, 2000 to Dec. 31, 2008, which includes about 3,000 loans.

comments powered by Disqus