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Obama administration expands affordable housing plan
Reuters: The Obama administration said on Thursday it would tap Treasury funds to bolster the construction of affordable rental housing and extend the life of a program aimed at helping homeowners avoid foreclosure.
The announcement by Treasury Secretary Jacob Lew was timed to coincide with the fifth anniversary of the Making Home Affordable program, an Obama administration initiative launched at the height of the economic crisis in 2009 to revitalize the housing sector and curb runaway foreclosures.
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