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Housing Plan Helps 20 Pct in Calif, Nev., Ariz. November 10, 2009, Associated Press The Obama administration's plan to combat the foreclosure crisis has reached about 20 percent of troubled homeowners in the states most affected by the housing meltdown, according to data being released Tuesday. n...
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Foreclosures Rise 5 Percent from Summer to Fall October 15, 2009, The Associated Press The number of households caught up in the foreclosure crisis rose more than 5 percent from summer to fall as a federal effort to assist struggling borrowers was overwhelmed by a flood of defaults among people who lost...
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MBA: Foreclosures, Unemployment to Peak Next Year October 13, 2009, Associated Press Foreclosures will peak by the end of next year and unemployment will climb above 10 percent as the housing market and U.S. economy grapple with the aftermath of the recession, the Mortgage Bankers Association's chief...
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Nevada Suit Could Halt Thousands of Foreclosures October 4, 2009, United Press International A Reno law firm is preparing a class action lawsuit on behalf of Nevada homeowners who face foreclosure by a surrogate company that represents thousands of mortgage owners but doesn't actually own the loans...
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America’s Housing Market: Where It All Began August 20, 2009, The Economist Signs of stabilisation should not obscure the big problems still ahead. He is hardly your typical distressed seller. Hugh Hefner recently sold his personal residence in Holmby Hills, California, next door to the Playboy...
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Mortgage delinquencies break another record Prime, fixed-rate loans account for one in three foreclosure starts: MBA August 20, 2009, MarketWatch Residential mortgages either in foreclosure or with at least one payment past due hit 13.16% in the second quarter, the highest percentage ever recorded by...
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Housing Starts Jumped in June From Prior Month CNN Money Initial construction of U.S. homes and applications for building permits both surged in June, according to government figures released Friday. Housing starts rose to a seasonally adjusted annual rate of 582,000, up 3.6% from a revised 562,000 in...
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Foreclosure Filings Hit 1.5 Million Homes in First Half of ‘09 Wall Street Journal The foreclosure train wreck continues, as a weak job market and falling home prices pushed foreclosures to a record high in the first half of the year. So far this year, more than 1.5 million properties have received...
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From Treasury to Banks, an Ultimatum on Mortgage Relief New York Times Remember that infamous meeting last October at the Treasury Department, the one where then-Secretary Henry Paulson locked the chief executives of the nation’s nine largest financial institutions in a room, and wouldn’t...
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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...