Recession pushes seniors to more food pantries nationwide
Valerie Bauman reports older Americans facing fixed incomes crowd food pantries as retirement funds and nest eggs shrink. The shift is seen in rising senior aid requests, with 4.7 million households using pantries in 2008, up from 3.7 million in 2006, and California, Arizona, and New York agencies noting sharp increases.
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Administration to intensify foreclosures effort nationwide
The Obama administration plans a broader foreclosure program to press mortgage companies to help homeowners stay in their homes. Treasury spokeswoman Meg Reilly said the expanded program will be announced on Monday and will include steps to boost servicer transparency and accountability to increase loan modifications for troubled borrowers.
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Treasury to pressure lenders on loan modifications
Industry officials say a new push will increase pressure on mortgage companies to accelerate loan modifications by highlighting firms lagging in the area. The Treasury plans to wait for permanent modifications before paying cash incentives to lenders that lower monthly payments.
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