Government Considers More Restrictions on Bank Foreclosures

In an effort to help struggling homeowners, the Treasury Department is considering a proposal to ban lenders from starting foreclosures unless borrowers have first been deemed ineligible for the government's loan modification program, according to an internal document detailing the plan. The administration's $75 billion Home Affordable Modification Program (HAMP) has helped 116,000 homeowners get permanent loan modifications, but the plan has been blasted by critics for failing to help more...Full Story
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