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How Much Entertainment Can $3.6 Billion Buy?

May 9, 2013

The National Mortgage Settlement may not be solving the housing crisis, but it’s providing plenty of entertainment.

Under the terms of the settlement, some of the country’s largest mortgage lenders are paying out $3.6 billion to former homeowners whose homes they foreclosed on.

As we previously reported, some of the checks from third-party vendor Rust Consulting have bounced.  So first homeowners were foreclosed on, then they received checks from their banks that bounced.