One million homeowners may get mortgage writedowns: U.S.

In exchange for an average right down of approximately $20,000 per home, several U.S. banks will avoid lawsuits for fraudulent lending practices. The write downs will not include any loans owned by Fannie Mae or Freddie Mac.

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http://mobile.reuters.com/article/idUSTRE80H1LI20120118?irpc=932

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