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22 January 2010
A task force of state attorneys general and banking regulators is calling for principal reductions on "underwater" mortgages in order to stem foreclosures in areas that have experienced steep declines in housing values.
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18 January 2010
To encourage the resale of foreclosed properties, the Department of Housing and Urban Development (HUD) is temporarily easing a restriction on the type of properties that can be bought with an FHA mortgage.
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5 January 2010
FHA mortgages could get a bit more expensive for borrowers, now that the government has lifted a cap on what lenders can charge for originating the loans.
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21 December 2009
A new online service to help homeowners submit and track the documents needed for a government-backed mortgage loan modification has been launched by HOPE NOW, a coalition of mortgage companies and credit counseling agencies.
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4 December 2009
As part of its foreclosure prevention efforts, the Obama Administration is launching a new program to encourage short sales and deed-in-lieu of foreclosure transactions for financially pressed homeowners who are unable to obtain loan modifications.
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10 November 2009
U.S.median sales prices on existing home rose for the second consecutive quarter in the three months ending Sept.30, according to new figures released today, although prices still remained well below the levels of one year ago.
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9 November 2009
The percentage of homeowners who are "underwater" shrank in the third quarter of this year, an encouraging sign that the residential real estate market may be stabilizing.
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6 November 2009
Some homeowners facing foreclosure will be able to remain in their property as renters under a new program announced Thursday by Fannie Mae.
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4 November 2009
Job losses declined in October for the seventh consecutive month, although actual gains in employment are still probably several months off, according to today’s National Employment Report from payroll giant ADP.Nonfarm private employment decreased by 203,000 in October, according to ADP, the smallest decrease since July 2008.
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26 October 2009
A government program designed to help at-risk homeowners refinance their mortgages is struggling, even as conventional mortgage refinances have surged in response to historically low interest rates.
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5 October 2009
Black and Hispanic mortgage loan applicants in the United States continued to face higher rejection rates on than whites and Asians last year, according to data released by the Federal Reserve last week.
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21 September 2009
The Federal Housing Administration has announced that it will require higher credit scores and tighten credit requirements in general for both lenders and borrowers, effective January 1.
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4 September 2009
The IRS will likely start taking a closer look at mortgage interest deductions and payments in an effort to identify tax cheats who are underreporting their income or not filing at all.
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29 July 2009
Elderly consumers are piling up credit card debt at a rate far exceeding all other age groups, with health care costs and deteriorating values of retirement savings causing many age 65 and older to increasingly rely on plastic for routine living expenses.
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6 July 2009
First-time home buyers in Michigan are getting an added incentive to buy a home, as the state is rejoining an old and often overlooked federal tax credit program.
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26 June 2009
People who are still hoping to refinance their mortgage or are shopping for a home got some good news the past two days, thanks to an easing of concerns over some of the factors that have been pushing up mortgage rates.
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22 June 2009
The Obama Administration's Making Home Affordable Plan may soon increase its limits on refinancing "underwater" mortgages to allow more homeowners to take advantage of the program, according to the director of the Federal Housing Finance Agency (FHFA).
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8 June 2009
Mega mortgage lender Freddie Mac is making several changes to provide homeowners with more flexibility in obtaining a government refinance of their mortgage under the Obama Administration's Making Home Affordable Program.
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21 May 2009
Legislation to make the floundering Hope for Homeowners mortgage bailout program more attractive to lenders was signed into law Wednesday by President Obama, along with another measure designed to crack down on mortgage fraud.
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18 May 2009
Financially stressed Texas homeowners could soon get a little more breathing room from the state's "fastest foreclosure in the West" foreclosure law under legislation that recently passed the state senate.
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