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Posted: Tuesday, 08 July 2014 4:50PM

Markets Drop Again, Mortgage Crisis Continues to Affect Homeowners



iStock/Thinkstock(NEW YORK) -- The markets tumbled on Tuesday, amidst a new report on the ongoing impact of the mortgage crisis.

The Dow Jones Industrial Average finished the day at 16906.62, down 117.59 from Monday's close.

The Nasdaq dropped 60.07 to a Tuesday close of 4391.46, while the S&P 500 slipped 13.88 to 1963.77.

According to the Federal Reserve, about 83 percent of homeowners who received payouts from a federal settlement with 13 big banks over wrongful foreclosures had cashed their checks by the end of April. The Federal Reserve says 4.2 million homeowners received checks ranging from a few hundred dollars to $125,000.


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