Federal Reserve Bernake says
Loss mitigation techniques have been scaled up by lenders and servicers for homeowners facing foreclosure. More can and should be done according to Ben Bernake, chairman of the Federal Reserve. Rising foreclosures threaten the wider economy so Bernake is recommending changes. Part of these includes giving broader powers to the Federal Housing Administration as well as to the Department of Housing and Development. These additional powers would enable the FHA some flexibility to offer refinanci
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