Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (285110)	10/20/2010 3:09:56 PM
From: Broken_Clock	Read Replies (2) \| Respond to of 306849

knowing u can't lose... ++++ Obama official says banks can restart foreclosures Obama housing secretary says lenders are within their rights to restart foreclosures ap Alan Zibel, AP Real Estate Writer, On Wednesday October 20, 2010, 2:41 pm WASHINGTON (AP) -- President Barack Obama's top housing official says lenders are within their rights to resume foreclosures this month despite allegations that they erred in processing documents. Two big lenders -- Bank of America Corp. and Ally Financial Inc.'s GMAC Mortgage unit -- are resuming foreclosures after halting them for two weeks. The companies say they're fixing problems in legal documents used to complete foreclosures. Whether to restart foreclosures is a decision every lender is entitled to make independently, says Housing and Urban Development Secretary Shaun Donovan. "We're committed to forcing institutions to change the way they conduct business," Donovan says. "We will force the changes to make sure that these types of problems don't happen again."