$557 million foreclosure deal of Goldman, Morgan Stanley

In what is seen as a deal that will help the finance industry move a step closer to ending the housing crisis-related problems, Goldman Sachs Group Inc. and Morgan Stanley will together pay a sum of $557 million to troubled borrowers. While $232 million will be paid to eligible borrowers, another $325 million will be paid in loan modifications and forgiveness.

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Goldman, Morgan Stanley cut $557 million foreclosure deal