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Foreclosing Better Than Loan Modifications For Banks?

By r morris

The Washington Post reports:Government initiatives to stem the country's mounting foreclosures are hampered because banks and other lenders in many cases have more financial incentive to let borrowers lose their homes than to work out settlements, some economists have concluded. Policymakers often say it's a good deal for lenders to cut borrowers a break on mortgage payments to keep them in their

Full post as published by The Home Equity Theft Reporter on July 28, 2009 (boomark / email).