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Volume 12 - Number 24

November 19, 2001

DC Freezes Foreclosure Law, Major Lenders Seek Repeal

Lenders in Washington, DC, are expected to push for repeal of an ordinance that makes it tougher for them to collect on bad loans through foreclosure. The Consumer Mortgage Coalition, a trade group of major financial institutions, said the costs of complying with the ordinance have forced lenders to consider taking their business elsewhere.

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