Obama puts the squeeze on mortgage companies

Filed under: Economy, Investing

The Obama administration has for months pressured the mortgage industry to bail-out homeowners who have fallen behind in their mortgage payments. Now, it wants the industry to try harder.

According to the Wall Street Journal, "The Obama administration is pressing mortgage-servicing companies to step up their efforts to modify troubled loans under its housing-rescue program, the latest sign of frustration with the pace at which mortgage companies are reworking troubled loans."

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Obama puts the squeeze on mortgage companies originally appeared on DailyFinance on Fri, 10 Jul 2009 11:00:00 EST. Please see our terms for use of feeds.

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Source: DailyFinance

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