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US Treasury Department

U.S. Treasury eyeing more help for homeowners

by Moe Bedard

“We’re seeing significant buildup in the foreclosure process,” said Michael Barr, assistant secretary for financial institutions in an interview with Reuters. “We’re seeing a number of people, given the state of the economy, who are having trouble staying in their homes,” said Barr, the Treasury’s assistant secretary for financial institutions.

Barr, who met here with U.S. [...]

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Geithner says US Loan Modification Plan is Only “Pretty Good.”

by Moe Bedard

I just picked this up from Reuters. The big Obama plan gets a HUGE, ummmmmmmmmm, actually just a so-so “pretty good” rating from U.S. Treasury Secretary Timothy Geithner.
Reuters:

NEW YORK (Reuters) – A U.S. mortgage loan modification program has “a pretty good chance” of success, though it will take a couple of months to gauge its effect, U.S. [...]

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Still waiting on Main Street

by Moe Bedard

THE US Treasury Department needs to take the same kind of aggressive steps to ease financial strains on homeowners that it took to guarantee the investments of banks and financial institutions. The economy can’t turn around until the housing market stabilizes. That requires a timely plan to stem mortgage defaults and foreclosures.

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