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Senate Democrats Offer Measure Limiting Foreclosures September 30, 2009, Bloomberg Senate Democrats introduced legislation that would expand federal loan-modification programs to more borrowers and place new restrictions on U.S. lenders before they can foreclose on delinquent homeowners. “This...
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Home Prices in 20 U.S. Cities Fell Less Than Forecast September 29, 2009, Bloomberg News Home values in 20 U.S. metropolitan areas declined less than forecast in the year ended in July, a sign the housing slump that led to the worst recession in seven decades is abating. The S&P/Case-Shiller home...
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Housing Crash to Resume on 7 Million Foreclosures, Amherst Says September 24, 2009, Bloomberg The crash in U.S. home prices will probably resume because about 7 million properties that are likely to be seized by lenders have yet to hit the market, Amherst Securities Group LP analysts said. The “huge...
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High Anxiety Over the $8,000 Home Buyer Tax Credit September 16, 2009, Wall Street Journal Builders are so eager for an extension and expansion of the popular first-time home-buyer tax credit, they’re taking out ads. The National Association of Home Builders and other housing players this week...
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Too Gloomy? Whitney Predicts 25% Home Price Plunge Wall Street Journal, September 11, 2009 U.S. home prices–which have already tumbled nearly a third from the 2006 peak–could plunge by another 25% as high unemployment levels continue, according to prominent banking analyst Meredith Whitney...
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Jonathan Miller is one of the leading market analysts in the New York City market. He's been blogging and podcasting about all facets of real estate, including foreclosures, for some time. He interviewed RealtyTrac Senior Vice President Rick Sharga about RealtyTrac's foreclosure data on a recent...
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Another Wave of Foreclosures Looms Washington Post, September 9, 2009 The housing market faces the prospect of a new round of foreclosures as hundreds of thousands of risky home loans known as option adjustable-rate mortgages reset to significantly higher payments that could force borrowers to fall behind...
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Five More U.S. Banks Are Seized, Pushing Total for Year to 89 Bloomberg News, September 5, 2009 Lenders in Illinois, Iowa, Missouri and Arizona collapsed, pushing the number of bank failures to 89 this year amid continuing fallout from the worst economic slump since the Great Depression. Closing the...
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Banks on Sick List Top 400 August 28, 2009, Wall Street Journal The banking industry continues to deteriorate, with federal regulators adding 111 lenders to their list of endangered banks in the latest quarter, even as the economy shows signs of stabilizing. Data released Thursday painted a gloomy picture...
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Those Who Lose Homes May Face State Tax Hit August 25, 2009, San Francisco Chronicle Californians who lose their homes in a foreclosure, short-sale or deed in lieu of foreclosure this year could be hit with a state income tax on canceled or forgiven debt. A state law that temporarily exempted many homeowners...