FDIC Chairman Sheila Bair Proposes Paying Deadbeat Homeowners $21,000 To Walk Away (4)
The five biggest US mortgage servicers were told this week at a private meeting with regulators to consider paying delinquent borrowers up to $21,000 each as part of a broader settlement of the foreclosure crisis.People who attended the meeting, chaired by the Federal Deposit Insurance Corporation on Monday, said the industry-wide “cash for keys” program [...]