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The Treasury Department spent 2009 pushing banks to modify mortgage payments so that distressed homeowners would not be displaced. Next month, the government will start a program encouraging owners and banks to sell some of those same homes.
The program, scheduled to begin April 5, focuses on transactions known as short sales, in which a lender allows a homeowner to sell a house for less than, or short of, what is owed on the mortgage.
But even before the program has begun, it’s receiving mixed reviews from…
Read more from the SF Gate
