States, mortgage lenders in talks over fund for borrowers in foreclosure mess

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State attorneys general and the country's biggest lenders are negotiating to create a nationwide fund to compensate borrowers who can prove they lost their home in an improper foreclosure, state and industry officials said.

he fund would present a solution for both sides, helping banks avoid lengthy and costly court challenges from homeowners and aiding state investigators in their efforts to seek relief for homeowners who were wronged, the officials said.

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States, mortgage lenders in talks over fund for borrowers in foreclosure mess