Treasury Urges Banks to Fix Foreclosure Problem
Unemployed Americans need more help escaping foreclosure, Assistant Treasury Secretary Michael Barr said Thursday.
“We are looking at a wide range of tools to help people who are unemployed,” Barr said. “We need to look at a process, if we come to this point, that is fair to everyone, that is cost effective, that protects the taxpayers and that gives responsible home owners a chance to stay in their homes.”
Barr said it was the responsibility of the banks to get their troubled borrowers into modification plans. “We are examining their performance every day … soon to be twice a day,” he said.
Source: Reuters News (12/03/2009)
Front Gate Properties, We’re selling the BEST Real Estate in Aiken, SC.
Leave a Reply