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Article posted: 2/21/2013 1:48 PM

5 big US banks have cut mortgage debt by $19 billion

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A "for sale" sign is seen outside a home in Glenview last month. Five of the biggest U.S. banks have cut struggling homeowners' mortgage balances by $19 billion, part of a total $45.8 billion in relief provided under a landmark settlement over foreclosure abuses.

ASSOCIATED PRESS

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Five of the biggest U.S. banks have cut struggling homeowners' mortgage balances by $19 billion, part of a total $45.8 billion in relief provided under a landmark settlement over foreclosure abuses. More than 550,000 borrowers received some form of mortgage relief between March 1 and Dec. 31, 2012, according to a report issued Thursday.
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