Since early 2007, 4 million families have lost their homes to foreclosure. Only now have state officials around the country begun to finalize a multi-billion dollar settlement with the biggest mortgage-providing banks that engaged in abusive or misleading practices, like robo-signing. Some critics, including those who have already had their homes go underwater, worry that it may let the banks off too easily.
Shaila Dewan is a reporter for our partner The New York Times and will explain more about the upcoming deal.
Gordon is a Takeaway listener on WLRN in South Florida who spent much of his life savings in an attempt to save his home, but ultimately had to short-sell it.