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Critics say HUD sales of delinquent mortgages are hurting, not helping

Critics say HUD sales of delinquent mortgages are hurting, not helping

The federal government has sold thousands of delinquent Maryland mortgages to private investors through a controversial program that critics argue hurts homeowners and contributes to Baltimore's vacancy problem.

Now they're mounting a campaign to try to change the program established by the U.S. Department of Housing and Urban Development in 2010 partly to get bad federally insured loans off the government's books.

Critics say the buyers, who purchased the mortgages at steep discounts off the unpaid balances, aren't using those discounts to be more flexible with homeowners, as the program also intended.

Instead, advocates say, the buyers are foreclosing on homeowners...

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