U.S. Government seals $25 billion mortgage settlement

February 10, 2012

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(flickr/Sasha Y. Kimel)
The $25 billion settlement was reached with the JP Morgan Chase, Citibank, Wells Fargo, Bank of America, and Ally Financial.

On Thursday, federal and state prosecutors reached a $25 billion settlement with banks over foreclosures.  So, what now? That's the question on many current and former homeowners' minds.

Ed Jacob, the executive director of the Neighborhood Housing Services of Chicago (NHS), sussed out the details and answered callers questions.