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Countrywide Financial settlement will aid some state homeowners

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Almost 3,000 Wisconsinites won't need a government bailout to keep their homes from being foreclosed.

Countrywide Financial Corp., is settling a lawsuit by agreeing to reduce mortgage rates to its most vulnerable holders of sub-prime and adjustable-rate loans.

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The national suit accused Countrywide of illegal marketing practices. Wisconsin is the 33rd state to reach a settlement.

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