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12 May 2009
Citibank will make available an additional $1 billion in loans to refinance mortgages for qualified homeowners, using capital it obtained through the Troubled Asset Relief Program (TARP), the bank has announced.
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28 April 2009
A new initiative to help resolve issues with second liens that have presented problems for many homeowners seeking assistance with problem mortgages was announced today the Obama Administration.
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22 April 2009
In the middle of a credit crunch, there's a mortgage boom going on.Overall lending is down, as banks have tightened their purse strings.
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30 March 2009
Wouldn't it be nice to buy a home without having to make mortgage payments? Senior citizens can now do just that, thanks to a new wrinkle in federal housing law that allows them to purchase a new home using a reverse mortgage.
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20 March 2009
The current recession is being particularly hard on recent military veterans, whose unemployment rate is higher than that of others in their age group who did not serve.Fortunately, veterans who are having difficulty making their mortgage payments have some new tools available to help them.
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20 March 2009
In the current economic downturn, financially stressed homeowners are becoming increasing desperate to do what they can to avoid foreclosure.
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9 March 2009
Bank mortgage portfolios continue to fill with homeowners in payment default.Meanwhile, housing inventories swell with foreclosures.The economy is in one of its worst downturns in decades and chances are it is affecting you.
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13 February 2009
The Obama administration unveiled an unprecedented plan to directly help homeowners make their mortgage payments.In a dramatic departure from current homeowner assistance programs, this plan would help borrowers before they become delinquent.
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6 February 2009
Fannie Mae has posted new guidelines for approving homeowners attempting to lower their loan payments with a mortgage refinance.
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22 January 2009
Low mortgage rates have brought more than a refinance boom, it has brought a surge in mortgage fraud.FBI statistics show that it is one of the fastest growing white collar crimes in the United States.
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14 January 2009
Another government supported mortgage mortgage agency is in trouble.The Federal Home Loan Bank (FHLB) of Seattle joins the San Francisco FHLB in announcing steps to shore up their capital reserves against toxic residential mortgage assets.
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30 December 2008
The tables have turned in the home improvement world.During the red-hot housing market, finding a contractor who would perform simple home improvement jobs was nearly impossible.As the market has iced over, renovation specialists are finding that the shoe is definitely on the other foot.
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29 December 2008
December brings holiday cheer and the end of the 2008 tax year.Not exactly "visions of sugar plums dancing," but certainly in the dreams of most adults as 2008 comes to a merciful close.How can you position yourself this month to maximize your 2008 tax savings?.
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17 December 2008
A recent report on the economy showed that there are more than 9,000 foreclosures per day, on average, across the USA.But in some regions, especially those where prices didn't experience dramatic escalations during the real estate bubble, the housing markets are relatively stable.
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2 December 2008
Increasingly loan modifications are becoming the preferred mechanism to help defaulting homeowners and troubled bank mortgage asset portfolios.All of the major banks, Bank of America, JP Morgan Chase, and Citigroup have announced streamlined loan modification programs.
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24 November 2008
Following Friday's 60 percent plunge of Citigroup stock, the Federal government again works through the weekend to avert disaster.The stock market took Citigroup on a plunge to $4 per share, leaving Citigroup with a $160 billion lose in value from a year ago.
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13 November 2008
The authorities have cracked down hard on appraisal fraud and subprime liar loan products that encourage mortgage dishonesty through overstated income.But mortgage fraud is still alive and well and living in America.
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12 November 2008
Federal Housing Finance Agency (FHFA) Director James B.Lockhart unveiled the US government loan modification program to great anticipation.With over 300,000 properties under foreclosure filing according to RealtyTrac, a foreclosure tracking company, the relief can not come quick enough.
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22 October 2008
Who can we blame for the U.S.mortgage crisis and financial industry meltdown? Mortgage brokers, investors, or corporate executives? Or is it the regulators, who are just now going after the crooks?.
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28 September 2008
Financial scammers are using reverse mortgages to rip off the elderly.Protect yourself by knowing the law and the scams.
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