One of the challenges facing President Obama in dealing with the struggling housing market is going to be tackling the staggering number of foreclosures on the market.
In the Financial Stability Plan, introduced today by Treasury Secretary Timothy Geithner, the government is proposing spending $50 billion on foreclosure prevention programs (see Inman News story). And while this may help stem the tide of future foreclosures it won’t help those homeowners who have already lost their homes.
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