White House tries to spur mortgage relief plan

Nov . 30, 2009 Article from the Associated Press:

“WASHINGTON – Faced with sluggish progress in its foreclosure-prevention effort, the Obama administration will spend the coming weeks cracking down on mortgage companies that aren’t doing enough to help borrowers at risk of losing their homes.

Treasury Department officials said Monday they will step up pressure on the 71 companies participating in the government’s $75 billion effort to stem the foreclosure crisis. The will start this week by sending three person “SWAT teams” to monitor the eight largest companies’ work and requesting twice-daily reports on their progress.”

Read Full Article:

http://www.msnbc.msn.com/id/34204856/ns/business-real_estate/

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