Housing Market

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

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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.



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