Deadline On $25B Mortgage Deal With Banks Postponed

Law360, New York (February 2, 2012, 6:47 PM EST) -- As states grapple with whether to sign on to a proposed settlement with major lenders that could provide $25 billion in relief to homeowners facing foreclosure, the state leading the effort agreed Thursday to postpone the buy-in date for the deal.

Iowa Attorney General Tom Miller assented to at least one state attorney general's request that he push the deadline back one business day, to Feb. 6, spokesman Geoff Greenwood told Law360 on Thursday. States had previously been required to opt in by Friday.

The proposed...
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