scandal, mortgage foreclosure probe

Analysis: Mortgage probe may open new path for housing relief

Five major banks could be required to commit roughly $15 billion to reduce principal balances for struggling homeowners and modify loans in other ways under a proposed deal to settle allegations linked to the "robo-signing" scandal... Five major banks could be required to commit roughly $15 billion to reduce principal balances for struggling homeowners and modify loans in other ways under a proposed deal to settle allegations linked to the "robo-signing" scandal.

Senh: Principal reduction and refinancing for underwater mortgages would be a two steps in the right direction. The only problem what happens to homeowners who have already done loan mods? Would they still qualify for principal reduction and/or refinance? It also sucks that certain programs are only available from one bank, but not another.

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Analysis: Mortgage probe may open new path for housing relief