The Associated Press February 7, 2012, 12:15PM ET

Delaware a holdout in foreclosure settlement

Delaware is still a holdout in a long-awaited settlement over foreclosure abuses.

The deal would force the five largest mortgage lenders to reduce loans for about 1 million households. More than 40 U.S. states have agreed to a nationwide settlement, and there is growing optimism that California, New York, Delaware, Nevada and a few others will eventually sign on.

Delaware Attorney General Beau Biden has said he still has concerns about the settlement as currently constructed.

In a statement Monday, Biden said the state is continuing to review the "complicated documents" and to "advocate for improvements to address our concerns."

One official with knowledge of the negotiations says teams worked well into Monday night to see if they could persuade more states to join the settlement.


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