The White House Support Gained on Forclosure Halt, No on Moratorium

October 12, 2010
1 min. read time

Secretary Robert Gibbs of the White House mentioned today that the Obama Administration will accept the probe into the faulty foreclosure proceedings, but against a moratorium.

This response hopefully will prevent the consequences of a widespread foreclosure freeze, while allowing banks such as Bank of America to “probe” the incidents relating to the 'robosigners', employees/agents who signed off on hundreds or thousands of foreclosure documents due to their lack of due-diligence to follow protocol.

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