Foreclosures up 24% in 1st Quarter
According to data released Thursday, in the first three months of this year the number of American households threatened with losing their homes grew 24% and is poised to raise further as major lenders restart foreclosures after a temporary break.
Is President Barack Obama's plan to help up to 9 million borrowers avoid foreclosure through refinanced mortgages or modified loans a realuty? The Obama administration expects these plans to make a big dent in the foreclosure crisis. Despite $75 billion in incentive payments, it remains to be seen whether the lending industry will fully embrace it.
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