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With foreclosure filings occurring every 13 seconds in America, is the Obama Administration really moving fast enough to get help for homeowners in trouble? It took about nine months to get 500,000 of them started on the road to mortgage modification.
A half-million homeowners helped is surely progress, but with 2 million foreclosures this year and economists predicting that number will hit 6 million over the next three years, the government’s program is looking more and more like half-empty sandbags thrown against a steadily rising flood.
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