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The Hits Just Keep On Comin'
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Nearly one million homes are in the foreclosure process. The government's spending on loan modifications did nothing to stem the tide, and, in fact, it's getting worse. Why do the banks prefer it this way when they're only going to get stuck with unmarketable homes they'll have to abandon and write off anyway? Wouldn't it be smarter to just give everyone a 40 year fixed and save at least a large percentage of these from going under?
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