Five biggest banks in U.S. have cut mortgage balances by $6.3 billion

Five of the biggest U.S. banks have cut struggling homeowners’ mortgage balances by $6.3 billion, part of a total $26.1 billion in home loan relief provided under a landmark settlement over foreclosure abuses. More than 309,000 borrowers received some form of mortgage relief between March 1 and Sept. 30, according to a report issued Monday [...]