WASHINGTON (Reuters) – The U.S. Office of Thrift Supervision urged its regulated institutions on Wednesday to halt home foreclosures until the government’s $50 billion plan is implemented.
The request comes one day after Treasury Secretary Timothy Geithner unveiled a bank rescue package that includes a program aimed at reducing monthly payments for troubled homeowners.
A broader U.S. housing program to keep people in their homes is expected to be announced as soon as next week.
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