Limiting foreclosures essential: Bernanke

Ben Bernanke, the chairman of the Federal Reserve, has called on both the public and private sector to do everything they can to limit preventable mortgage foreclosures.

"High rates of delinquency and foreclosure can have substantial spillover effects on the housing market, the financial markets, and the broader economy," Bernanke said. "Therefore, doing what we can to avoid preventable foreclosures is not just in the interest of lenders and borrowers. It's in everybody's interest."

"Many

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