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Foreclosure Nation

Leading Democrats, such as Senate Majority Leader Harry M. Reid (D-Nev.) whose state was hit hard by the real estate downturn, have called on lenders to halt foreclosures. But the Obama administration says a nationwide delay could devastate the fragile real estate market in places like Florida.

Leading Democrats such as Senate Majority Leader Harry M. Reid (D-Nev.) whose state was hit hard by the real estate downturn, have called on lenders to halt foreclosures.

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Bank of America to restart foreclosures in 23 states
Article | Just 10 days after announcing a nationwide halt to foreclosure sales, Bank of America, the nation's largest bank, said Monday that it would begin resubmitting paperwork on Oct. 25 to restart foreclosures on borrowers who missed their payments in 23 states.
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Don't underestimate foreclosure crisis, watchdog warns
Article | A congressional oversight panel warned on Tuesday that a widespread problem of flawed and fraudulent foreclosure paperwork could upend the housing market and undermine the nation's financial stability. The report comes just as the issue is drawing greater scrutiny this week in Washington.
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In mortgage crisis, uneasy politics
Article | The details of the foreclosure mess are ugly and complicated. The politics of it are even worse.
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Foreclosure crisis puts Wall Street reform legislation to the test
Article | The foreclosure problems that have unfolded in recent weeks present a test of whether financial regulators can respond more cohesively and aggressively to an emerging problem than they did to the subprime crisis three years ago.
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States, mortgage lenders in talks over fund for borrowers in foreclosure mess
Article | State attorneys general and the country's biggest lenders are negotiating to create a nationwide fund to compensate borrowers who can prove they lost their home in an improper foreclosure, state and industry officials said.

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