By Philip Elliot
May 20, 2009
WASHINGTON - President Barack Obama said homeowners facing foreclosure would have a second chance under a measure he signed into law on Wednesday, but he added consumers still must live within their means.
The law encourages banks to spare homeowners from foreclosure and cracks down on lenders who take advantage of them. The bill passed Congress earlier this week and Obama bypassed a promised five-day waiting period to make it law.
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