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Obama Hopelessly Behind on Foreclosure Issue

Mathew Rothschild @ The Progressive - How ironic is it that the banks are the ones that are finally imposing a moratorium on foreclosures, rather than the Obama Administration.

On Friday, Bank of America announced that it was halting its foreclosures in all fifty states amid a scandal over whether it and other banks had been using proper documentation in foreclosure proceedings.

JP Morgan Chase and Ally Financial also have halted foreclosures, at least in the 23 states that require a judge to sign off on the deals.

The attorney general in one state after another is looking into possible fraudulent foreclosures.

But all the while Obama Administration still resists backing a moratorium. Read more.


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