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Foreclosures and home values

In Uncategorized on April 15, 2010 at 8:36 am

In a recent interview on CNN, bank analyst Meredith Whitney stated that home foreclosures will continue to rise. As a result, home values will continue to suffer. Meanwhile the Congressional Budget Office issued a report critical of the administration’s foreclosure rescue program. The report states that for every home loan modified under the program, ten homes fall into foreclosure. How can we have a real economic recovery while this problem continues to grow?

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