11-03-2010 03:50 AM
'The Obama administration is singing a different tune about foreclosures. A year ago, officials focused on stemming the foreclosure tide. Now they are touting the need for foreclosures to rebuild the housing market.
Last week Phyllis Caldwell, head of the Treasury Department's Homeownership Preservation Office, told a congressional panel that "an important part of ensuring longer-term stability in the market is to enable properties to be resold to families who can afford to purchase them".'
Read more: Obama Administration Sings New Tune on Foreclosures