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Obama Administration Sings New Tune On Foreclosures

Up until recently, the Obama Administration was all for stemming the tide of foreclosures by suggesting that lenders work out loan modifications and hold off on foreclosures. Recently however there been statements made by those in his administration that clearly point to a change in philosophy on what needs to happen. The administration is now acknowledging that what is key to the housing recovery is to allow foreclosures to be finalized as quikly as possible so that the values of neighboring properties does not continue to be affected by such distressed properties. Read more

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