Just out from Washington... The nation's five largest banks are off to a good start on their promise to help ease the foreclosure crisis, providing nearly 140,000 struggling homeowners with a total of $10.6 billion in mortgage debt relief, according to a government report. Housing and Urban Development Secretary Shaun Donovan said; "We will continue holding the banks' feet to the fire in the months ahead, and we will be watching like hawks to make sure they live up to the requirements under this settlement." The report from the Office of Mortgage Settlement Oversight showed that Bank of America had faltered in one key area. It did not complete a single modification of a first mortgage from the settlement's start date of March 1 through June 30. The other four banks had completed a total of 7,093 modifications of first mortgages worth $749 million during that same period. JP Morgan Chase completed the most, 2,920, with the highest value at $...
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