WASHINGTON, Jan. 25 (UPI) --
President Barack Obama's administration has not decided on a strategy to fight the tide of U.S. home foreclosures, experts say.
The Los Angeles Times reported Sunday that among the possible measures being pushed by interest groups is a six-month foreclosure moratorium, a doubling of the mortgage interest deduction, a tax credit for those who buy homes and a federally sponsored mortgage refinancing program.
"They're just getting started," said Steven Adamske, spokesman for the House Financial Services Committee.
U.S. Treasury Secretary nominee Timothy Geithner said last week the White House was still wrestling with proposals.
The Times said the political challenge for the Obama team will be crafting a foreclosure prevention package that promotes refinancing without unfairly benefiting irresponsible borrowers or lenders.
University of California at Berkeley economist Kenneth Rosen met with the Treasury Department's transition team this month to present his ideas for addressing the housing crisis.
He said whatever course the administration might choose, more foreclosures are inevitable.
"Many people will lose their houses anyway," he said. "They're just stretched too far."
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