Federal Reserve chief has one recipe for housing market

Federal Reserve Chairman Ben Bernanke has a recipe for helping the housing market: Modify more loans and speed up foreclosures to get rid of a glut of distressed properties clogging the system.

Still, even that approach may be slow going, with persistently high unemployment making would-be borrowers cautious, and tighter credit standards for mortgages locking out the bottom third of buyers who would otherwise take the plunge.

Click HERE For More Information | Reuters

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