Reuters - The U.S. Treasury Department is
studying a new regulatory proposal aimed at prodding servicers
to help homeowners facing foreclosure to refinance their
mortgages, the department’s undersecretary, Bob Steel, said on
Thursday.
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Foreclosures are up, housing prices are down, and mortgages are harder to get. Just how bad is the market?
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Adjustable-rate mortgages could become more popular as the difference between long-term fixed rates and adjustable rates increases, Freddie Mac reported Thursday.
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The Press Democrat reports from California. “A total of 47 cases were scheduled for hearings Thursday in Judge Alan Jaroslovsky’s Santa Rosa bankruptcy court, each involving a creditor seeking permission to seize a debtor’s property. The vast majority involved lenders attempting to foreclose on homeowners who had sought safe haven in the courts from the […]

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Reuters - Home prices have plunged by 10 percent
or more in some parts of the United States and interest rates
on mortgages are at enticing levels, but many potential buyers
are waiting for prices to fall further.
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The News Press reports from Florida. “Homeowners threatened with foreclosure could get a 30-day reprieve under a Bush administration initiative announced Tuesday. But people in Lee County, where the number of foreclosures jumped to a record 1,833 in January as prices have plunged over the past two years - had little good to say about […]

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Congressional leaders and the White House have agreed to raise loan limits on mortgages guaranteed by Fannie Mae and Freddie Mac.

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