White House doubts need to halt all foreclosures - KAIT Jonesboro, AR - Region 8 News, weather, sports

White House doubts need to halt all foreclosures

WASHINGTON (AP) - A top White House adviser is questioning the need for a blanket stoppage of all home foreclosures. Pressure is growing for the Obama administration to do something in the face of mounting evidence that banks have at times used inaccurate documents to evict homeowners.

Obama senior adviser David Axelrod says flawed paperwork poses a serious problem, but he notes that there are valid foreclosures that ought to be allowed to go forward. Axelrod says the Obama administration is pressing lenders to step up their reviews of foreclosures to determine which ones have flawed documentation.

 Last week the Bank of America became the first bank to halt foreclosures in all 50 states. Axelrod appeared Sunday on CBS' "Face the Nation."

 (Copyright 2010 by The Associated Press. All Rights Reserved.)

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