Only Forceful Action Can Turn Foreclosure Crisis Tide

Mary Kane, The Washington Independent: "The time may be ripe for a shift in strategy as the foreclosure machine grinds on, and new foreclosure notices reach the troubling milestone of 10,000 per day. A weak economy has added job losses and falling home values to the mix of toxic loans that prompted the crisis two years ago, making an already difficult situation even more severe. Government measures from foreclosure freezes to loan modifications have only served, so far, to stall the inevitable - and to create an ominous backlog of millions of pending foreclosures."

http://www.truthout.org/071309V?n



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