Threat of foreclosure on underwater homes still vexes Obama administration

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The housing outlook is brighter, but the Obama administration is still looking for answers for millions of homeowners struggling with underwater mortgages.

August 22, 2012

The housing outlook is brighter, but the Obama administration is still looking for answers for millions of homeowners struggling with underwater mortgages. Even as home prices begin to stabilize in many areas of the U.S. and mortgage delinquencies drop to the lowest level in three years, the administration faces an uphill battle for keeping the nation’s 11.4 million underwater homes from turning into foreclosures.

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