Hillary’s $1 billion foreclosure bailout

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Good morning, again. Hillary Clinton today is rolling out a series of housing proposals, including a crackdown on unscrupulous mortgage brokers and a $1 billion fund to help homeowners avoid foreclosure. Highlights from the AP:

--’Presidential hopeful Hillary Rodham Clinton is calling for penalties on unscrupulous mortgage brokers who engage in predatory lending and a $1 billion federal fund to help homeowners avoid foreclosure.’
--Clinton: ‘The unfortunate fact is, many people have gotten into the mortgage market who are being exploited and abused by boiler-room mortgage-lending operations that are just like selling phony penny stocks or the old traveling salesmen with the snake oil.’
--’Clinton also will propose a $1 billion federal fund for local and state programs that help at-risk homeowners avoid foreclosures. She said those programs could help the ‘unsuspecting families’ linked to unfair mortgages.’
--’And she also planned to demand lenders remove early payment penalties attached to some mortgages.’

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Photo Credit: AP