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Jakabovics says the problems with the program require more aggressive steps. He says the president’s plan should be reaching a lot more people, which would be good for both the housing market and the overall economy.
It’s hard to tell exactly what’s tangling things up at the call centers.
“I still think there’s a lot of ‘he said, she said,’” Jakabovics says. The banks say borrowers don’t send in all their documents to qualify for loan modifications. Homeowners and housing counselors counter that they’ve sent in the material numerous times and that they continually encounter bank personnel who say they’ve never heard of the previous person that they contacted about their case.
Given all these problems, why is the Treasury Department sending in SWAT teams for just three days?
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