Federal and state officials negotiating with major banks on a settlement over allegedly improper foreclosures have given state attorneys general until Feb. 3 to opt in to a potential deal. The number of states participating could affect the value of the deal or whether an accord is even reached. 

Government officials are seeking a deal valued at $25 billion in loan write-downs and other homeowner compensation with Ally Financial, Bank of America, Citigroup, J.P. Morgan Chase, and Wells Fargo.

The author of this article is: realtormag.realtor.org

See the original post at: http://realtormag.realtor.org/daily-news/2012/01/31/cutoff-looms-loan-accord

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