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the (HAMP) program is $522" - DSnews.com

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California Pulls Out of AG Settlement Talks With the 5 Major Banks


The five top mortgage companies were in negotiations with state attorney general on a possible settlement. However, these negotiations ended due to the state of California pulling out.  The state of New York had already pulled out in August. The reason for California pulling out was due to the deal being "inadequate for the homeowners".  Therefore, having California and New York pulling out, it makes it difficult to reach a multi-state settlement agreement that would benefit the 5 major lenders for them to avoid further mortgage litigation.