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IPFS News Link • Economy - Economics USA

Foreclosures Unending

• arclein
A continuing steep drop in home prices combined with rising unemployment is powering a new wave of foreclosures. Unfortunately, there’s little evidence, so far, that the Obama administration’s anti-foreclosure plan will be able to stop it.

1 Comments in Response to

Comment by William1950
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The banks are in fine shape, they have the backing of the American printing press to heal their wounds. The best way to slow the loss of homes is as easy and complex as the number of sticky fingers in this plan -- cut all interest rates by half with none over three percent. Cut the principal amount owed on any home loan by thirty three percent. What this does is give the Middle American a taste of the bailout he will have to pay for and pump money into the economy, money that is already present but being stripped off from interest and over inflated home values.