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By Orrin G. Hatch
Procedural changes impede the chamber's traditional deliberative function
Topic - Bruce Whitehurst
"Slow foreclosure laws keep a damper on the housing market recovery because it takes so much longer for the foreclosures to be resolved," Mr. Whitehurst said. "It's a very, very tough situation for anyone to have a home foreclosed on them, and no one takes that lightly, but if a foreclosure is inevitable, slowing it down is not really good for the housing market."
"The combination of lower housing prices and incredibly low interest rates will make it a great environment for buyers in the foreseeable future," said Bruce Whitehurst, president and CEO of the Virginia Bankers Association. "It's painful for anybody who has a home that's not worth what they bought it for, but there's no question it's a good time for buyers."