The approval of the $700B bailout legislation is just the first step to the address the national financial crisis. Congress now needs to turn its attention to the distressed homeowners.
Foreclosures must be off the market soon. As home prices continue to drop, delaying the sale of a foreclosed home may mean a lower value than it is worth.
The administration of President Barack Obama is identifying at-risk loans and offering incentives to banks and lenders to modify loans that may lead to reducing the number of foreclosure properties in the country.
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