The $25 Billion that big banks will pay for their role in foreclosure fraud following the housing crisis is the biggest settlement with a single industry since big tobacco in 1998.

The settlement’s funds are aimed at helping struggling homeowners, and to pay down debt.  This move may help some homeowners struggling to keep their homes, but time will tell how much this single event will aid in the housing market’s recovery.

To read more from the New York Daily News, click HERE

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