Obama administration pushes to make mortgage modifications permanent

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Jim Puzzanghera reports that the Obama administration announced a renewed push to get mortgage companies to convert hundreds of thousands of temporarily restructured home loans into permanent ones by the end of the year to help keep struggling homeowners from falling into foreclosure.

As part of its aggressive action, the administration is summoning executives from the nation’s top mortgage servicers to Washington next week to prod them to speed up their efforts.

It also is sending what administration officials described as three-person ‘SWAT teams’ to the offices of those firms to help them obtain the necessary documents from borrowers and trouble-shoot problems.

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