Foreclosure Probe Launched in 49 States


WASHINGTON — Every U.S. state except one launched a joint investigation into the mortgage industry Wednesday, a move some experts fear will cause uncertainty and threaten the recovery of the housing market.

The 49 state attorneys general are investigating allegations some banks used shoddy paperwork to kick struggling borrowers out of their homes during a foreclosure crisis that is one of the most visible wounds of the 2007-2009 recession.

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