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Landmark deal will Provide Economy $25B boost.



February 09, 2012 – Comments (2) | RELATED TICKERS: SPY , QQQ

 Mortgage deal could help 2 million Americans

Proposed $25 billion settlement with major mortgage lenders would be biggest in 14 years. Much of the money would go to struggling homeowners and former homeowners hit by improper foreclosures.

By Alejandro Lazo, Los Angeles Times/MCT / February 9, 2012

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The money will go straight to the consumers hands which in turn will go straight into the economy. Therefore its a $25B dollar boost to the economy that otherwise would not have occurred.

2 Comments – Post Your Own

#1) On February 09, 2012 at 1:49 PM, JaysRage (81.63) wrote: it won't.   Only $5 billion of the money will go to homeowners.  The other $21 billion is a glorified bailout. 

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#2) On February 09, 2012 at 2:00 PM, JaysRage (81.63) wrote:

In fact, the amount of money to go directly in consumers hands is approximately $1.5 billion, not even the $5 billion number. 

Negotiators have said that about 750,000 people could receive checks for about $1,500 to $2,000.

That's it.  The rest of the money goes to mortgage renegotiation, write-downs....etc....government funds and programs around housing.....    That's a pretty weak stimulus overall. 


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