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The senators had planned to make foreclosure relief part of the bill, by including a measure to let bankrupt homeowners have their mortgages modified under court protection.
The effort, led by Iowa's attorney general, Tom Miller, is in flux as several prominent attorneys general left office and their replacements decide whether to make foreclosure reform a priority.
At some point the administration may be forced to conclude that the best option for all involved is to make foreclosure as painless as possible, and to help turn struggling borrowers into relieved renters.
In these cases, the right answer is to make foreclosure faster and less damaging to everyone else, so that homes can swiftly be bought by people who can pay for them.
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It comes down to this: banks are paid incentives to modify mortgages so owners can hold on to their homes, but other incentives can trump timely modifications or make foreclosures look like a better financial deal for the banks.
A recent report by the California Reinvestment Coalition found that banks continue to make foreclosure-related mistakes, despite many pledges of reform.
The Neighborhood Economic Development Advocacy Project in New York City, for instance, last year started making foreclosure avoidance loans to those who receive financial counseling.
But that year saw legal changes which meant lenders could remain the owner of a property until after the final payment, making foreclosure more straightforward.
He would also "spare thousands of families from going through the foreclosure process" by making foreclosure alternatives easier.
This would have given underwater homeowners security in their homes and also made foreclosure less attractive for creditors.
Huntsman delves right into the controversy, siding with Schneiderman and Biden, and making foreclosure fraud a central tenet of his financial reform plan.
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