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Published August 06, 2013, 03:27 PM

Obama pitches mortgage overhaul as housing rallies

PHOENIX (AP) — Buoyed by an improving housing market, President Barack Obama on Tuesday proposed a broad overhaul of the nation's mortgage finance system, including winding down government-backed Fannie Mae and Freddie Mac. He declared that taxpayers should never again be left "holding the bag" for the mortgage giants' bad bets.

By: JULIE PACE,AP White House Correspondent, Associated Press

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