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Obama Backs Foreclosure Probe, Rejects Moratorium

President Barack Obama is throwing his support behind state attorneys general looking into filings of allegedly faulty home foreclosures while rejecting a nationwide freeze on such seizures because of potential “unintended consequences,” said a White House spokesman.

The administration is concerned that halting foreclosures would hold up home sales, threatening the recovery in the housing market, White House Press Secretary Robert Gibbs said.