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JP Morgan today went out on a limb and "said it won't begin new foreclosure proceedings on some loans while it finds ways to make payments easier on $110 billion of problem mortgages."
It took a while for somebody, anybody post-TARP to do this on a large scale, but it's about time. I suspect that JP Morgan had a very large government whispering in their ear, but that's OK.
Better late than never.
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