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Preview:Lenders and Investors Asked
To Help Homeowners in Trouble
By Greg Ip
From The Wall Street Journal Online
Federal and state banking regulators urged lenders and investors to restructure the loans of millions of borrowers at risk of losing their homes as their adjustable-rate mortgages reset to a higher rate.
Lenders should "review to determine the full extent of their authority to identify borrowers at risk of default" and find a way to keep the borrower in a home, the regulatory bodies said in a joint statement.
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