BUSINESS

Foreclosure Reform Deal With Banks Still Far Off: State Attorneys General

01/17/2011 05:12 am ET | Updated May 25, 2011

Changing the face of foreclosure in America will take some time, several state attorneys general said Wednesday, cautioning that an agreement with major lenders over revamped foreclosure practices was not imminent.

"We want to move as quickly as possibly but it has to be done right," said Roy Cooper, the attorney general of North Carolina. "We have plowed this ground before."

Ever since the law enforcement officials from all 50 states signed on last month to a highly publicized investigation of big mortgage lenders, there has been a public tug of war.

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