Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Deadline Closes In For Mortgage Relief Settlement

RENEE MONTAGNE, HOST:

NPR's business news begins with possible mortgage relief.

(SOUNDBITE OF MUSIC)

MONTAGNE: Close of business today - that's the deadline for states to sign on to a settlement that would help underwater homeowners – that is, people who owe more on their home than it is worth. Abuses on foreclosures by several big banks set into motion the settlement.

If states agree to the deal, it could mean a settlement of up to $25 billion. It would be used for aid to people who have dealt with foreclosure, or are at risk of being foreclosed. Transcript provided by NPR, Copyright NPR.

NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.