U.S. needs a viable anti-foreclosure plan

08/20/2010 | New York Times (tiered subscription model), The

For the 17th consecutive month, foreclosure filings surpassed 300,000 in July, according to RealtyTrac. Bank repossessions have soared over the past eight months, including nearly 93,000 in July alone. Foreclosures and repossessions fuel the downward spiral of the housing market, requiring a serious effort to reverse the trends. So far, anti-foreclosure efforts have fallen short, but new programs are showing some promise.

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