TITLE

Bank of America, state office in talks for settlement

AUTHOR(S)
Edwards, John G.
PUB. DATE
October 2008
SOURCE
Las Vegas Business Press (10712186);10/13/2008, Vol. 25 Issue 41, p17
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
This article reports that the Nevada attorney general's office is negotiating the final details of a proposed settlement with Bank of America Corp. that would reduce monthly payments of homeowners who obtained subprime and pay-option adjustable rate mortgages (ARM) from Countrywide Financial Corp. Bank of America acquired Countrywide. The details of the settlement and the differences between subprime and pay-option ARM are discussed.
ACCESSION #
35050697

 

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