New Foreclosure Prevention Plan Announced
Lowering balances and temporary help for unemployed borrowers are part of the Obama administration’s expanded foreclosure prevention program.
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Delinquent Mortgages at Nearly 14 Percent
New foreclosures are expected in the coming months due to a high number of home owners behind on their mortgage, according to a new government report.
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30-Year Rates Just Shy of 5 Percent
The average rates for 30-year fixed loans stopped just short of 5 percent this week, according to Freddie Mac.
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Half of Modified Home Loans are in Default
Of the mortgages modified a year ago, more than half are back in default. Approximately 4.5 million foreclosures are expected in 2010.
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California Extends Home Buyer Tax Credit
The Golden State has extended its $10,000 home buyer tax credit, doubling its total funds to $200 million and opening it up to resales.
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Top 10 Best Cities for Borrowers
Forbes ranked the U.S. cities with the lowest foreclosures and delinquencies, where buyers get the best terms and interest rates from banks.
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