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Loan program did more harm than good

The Obama administration's $75 billion program to protect homeowners from foreclosure may have done more than good, according to some economists and real estate experts. The program was aimed at helping homeowners stay in their homes. But in many cases it just delayed the inevitable, which cost taxpayers and the homeowners and lengthened the crisis. "We have simply slowed the foreclosure pipeline, with people staying in houses they are ultimately not going to be able to afford anyway," Kevin Katari, a hedge fund manager, told the New York Times.

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