trying so hard to keep this house. i m fighting so hard to keep my little home. there are an estimated 6 million distressed homeowners like her facing foreclosure and eligible for home mortgage modification. federal efforts at mortgage relief have had modest impact, but now there s a state-led plan in the works to bring homeowner relief. attorneys general led by florida and idaho are getting to the principal reduced, helping to make monthly payments and avoid foreclosure. in exchange, the ags would seek to lessen the penalties against the banks from mortgaging servicing abuse, a partial amnesty. negotiations began a year ago with all 50 attorneys on board, now seven have pulled out, including california and new york, concerned that this deal is too sweet for the banks and for homeowners, well, much like this florida eyesore, neglected
there. this is being spearheaded by a group, a committee, of seven attorneys general led by iowa s tom miller, as well as florida s attorney general pam bony. here s what iowa s attorney general sent out, quote, while attorneys general are free to criticize an agreement that does not yet exist we expect you ll soon see the tanible results of our year long efforts to address improper servicing and foreclosure practices and provide relief to homeowners. exactly how much principal reduction relief could be spread about the country for all of the millions of americans is still being worked on. some haveiminity estimated 20-$25 million. i mean $25 billion. that may be the number. but critics, foreclosure attorneys say that s not nearly enough. it is a drop in the bucket. and i don t believe it s worth to deal with the devil to give up our rights to bring the proper actions against the banks. reporter: interest rates right now, about 4 percent nationally, or a little under that right now
around the country. a woman in orlando named patricia. i go do bed at night worrying about the house, i wake up in the morning, still worried about the house. i am fighting so hard to keep my little home. there are an estimated six million distressed homeowners like her fighting foreclosure. but there is a plan in the works to bring homeowner relief, attorneys general led by iowa and florida are working to get the banks and lenders to reduce the principle owed by the distressed homeowners and avoid foreclosure. in exchange they would agree to lessen the penalties sought against the banks from the foreclosure robo signing to mortgage servicing abuse, partial amnesty. negotiations began a year ago with all 50 on board and now at least seven are out including california and new york because they believe it is too sweet for
trying so hard to keep this house. i m fighting so hard to keep my little home. there are an estimated 6 million distressed homeowners like her facing foreclosure and eligible for home mortgage modification. federal efforts at mortgage relief have had modest impact, but now there s a state-led plan in the works to bring homeowner relief. attorneys general led by florida and idaho are getting to the principal reduced, helping to make monthly payments and avoid foreclosure. in exchange, the ags would seek to lessen the penalties against the banks from mortgaging servicing abuse, a partial amnesty. negotiations began a year ago with all 50 attorneys on board, now seven have pulled out, including california and new york, concerned that this deal is too sweet for the banks and for homeowners, well, much like