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For the last two years, financial and political experts have been trying to slow this huge foreclosure avalanche. But to the dismay of many, they now say foreclosures are needed to help restore the dying housing market.
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But [url=http://202.107.243.76/djw/guestbook.asp]hollister[/url] what these ones failed to report was that almost 86,000,000 people in the U.S. cannot afford or qualify for a house loan. Many have [url=http://www.rtnagel.com/airjordan.php]nike air jordan pas cher[/url] been arguing [url=http://www.1855sacramento.com/woolrich.php]woolrich parka[/url] the case that St Louis foreclosures need to stop thus allowing for renegotiations to help keep these owners in their homes.
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Politicians have called for reviews into the institutions' foreclosure policies and procedures, stressing that servicers must comply with the law.
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And what about the 3.95 million homeowners who are still facing or have faced forclosure? The federal loan modification programs have done very little to help these struggling taxpayers.
Only 496,000 distressed borrowers have received long-term modifications through September 2010.
Experts are even going as far to say that consumers need to come to grips with the fact that foreclosures, although unwanted, are now a necessary component for an eventual stable economy.