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U.S. foreclosure activity hit another record high in July, with 360,149 properties receiving a foreclosure filing during the month, according to the RealtyTrac U.S. Foreclosure Market Report released today. Laws extending the foreclosure process had some effect on holding down the numbers in some states...
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July Unemployment Rate Drops USA TODAY Employers throttled back on layoffs in July, cutting just 247,000 jobs, fewest in a year, and the unemployment rate dipped to 9.4%. It was a better-than-expected showing that offered a strong signal that the recession is finally ending. The new snapshot, released...
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America Needs a Single Bank Regulator Financial Times In recent weeks our financial markets have shown signs of recovery thanks to unprecedented action to stabilize markets and stimulate the economy. Yet this crisis has many distressing qualities. Perhaps most dispiriting is the sense that we have seen...
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Few Qualified Delinquent Borrowers Getting Federal Help Washington Post Less than 10 percent of delinquent borrowers eligible for the Obama administration's $75 billion foreclosure prevention program have received help so far, according to Treasury Department estimates released Tuesday morning, showing...
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Mortgage Firms Prodded to Modify More Loans Wall Street Journal The Obama administration is pressing mortgage-servicing companies to step up their efforts to modify troubled loans under its housing-rescue program, the latest sign of frustration with the pace at which mortgage companies are reworking...
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Banks Balk at Agency Meant to Aid Consumers New York Times Banks and mortgage lenders are placing top priority on killing President Obama’s proposal to create a new consumer protection agency that would regulate home loans, credit card fees, payday loans and other forms of consumer finance. The...
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Paper Avalanche Buries Plan to Stem Foreclosures New York Times Somewhere on earth, there must be a more difficult task than this: persuading American mortgage companies to lower payments for homeowners who can no longer afford their loans. But as Karina Montenegro struggles to accomplish this feat for...
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Foreclosure Mediation Rules Being Developed In Nev. San Jose Mercury News A new Nevada law requiring lenders to meet with homeowners in danger of foreclosure is expected to create numerous requests for mediation. The Nevada Supreme Court, which is drawing up rules for the mediation sessions, held the...
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After hitting a record-high of more than 342,000 in April, U.S. foreclosure activity backed down 6 percent in May, with 321,480 properties receiving a foreclosure filing during the month, according to the RealtyTrac U.S. Foreclosure Market Report released today. That was still up nearly 18 percent from...
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U.S. foreclosure activity hit another record-high level in April, thanks to a slight increase from the previous month, according to the U.S. Foreclosure Market Report . Foreclosure filings were reported on 342,038 properties during the month, up less than 1 percent from March and up 32 percent from April...