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Friday, February 26, 2010

Treasury Department new limit on banks to stop foreclosure

Stop Foreclosure

The Treasury Department is considering a plan to limit banks to stop foreclosure in an attempt to aid striving house owners. If borrowers have first been believe disqualified for the administration Home loan modification program.

The administration $75 billion Home Affordable Modification Program (HAMP) assisted 116,000 house owners to obtain stable loan modifications, but the program has been exploded by opponents for deteriorating to aid more and assist the real estate crisis. The new plan needs banks to stop foreclosure if borrower is in a test period plan.

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