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FHA Turns, Once More, to Private Investors to Aid Troubled Homeowners

With each passing month, the foreclosure crisis continues to slowly burn. The Obama Administration keeps splashing water on it—massive remodifications, mortgage settlement cash, rental programs—hoping something will stick. On Friday, here at the Clinton Global Initiative, in Chicago, HUD Secretary Shaun Donovan and FHA Commissioner Carol Galante announced yet another: a program to pool together mortgage loans on the brink of default, and save them.

 

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