Aid for Borrowers behind on Their Countrywide Payments

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Bank of America—the new owner of Countrywide—wants to get out from under charges of lending abuse. It's told California and other states that it will help mortgage holders struggling to make their payments—to the tune of $8.7 billion for 400,000 borrowers. About 125,000 of those people are in California. The deal was negotiated by California Attorney General Jerry Brown.

Credits

Guest:
Scott Reckard - Business writer for the Los Angeles Times

Host:
Warren Olney

Producers:
Karen Radziner, Christian Bordal