Cited: AP/Reuters
The summer was the worst for the housing market in more than a decade even though previously occupied homes sales rose in September. According to the National Association of Realtors stated on October 25 that sales rose 10% in September for a seasonally adjusted annual rate of 4.53 million. Even so, buyers may be [...]
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Cited: Reuters
The economic recovery tepid pace was underscored by the unexpected reduction of demand for long-lasting US manufacture goods last month as well as a drop in the gauge of business spending plans.
Another report from the Commerce Department on Wednesday, October 27, showed new home sales continued to bounce along the bottom, leaving intact expectations [...]
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Source: Los Angeles Times
The Obama administration on Thursday announced changes to its controversial initiative to ease home foreclosures, expanding public outreach and eligibility in response to sharp criticism that the $75-billion program had been ineffective.
Among the changes to take effect June 1 is a requirement that companies servicing mortgages must prescreen every borrower who has [...]
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Source: Los Angeles Times
Wynn Bloch defaulted on the mortgage on her Palm Desert home, even though she could afford the payments, because she said the banks failed her and she now she wants out.
Bloch paid $385,000 for the two-bedroom in 2006, when prices were still surging. Comparable homes are now selling in the low-$200,000s. [...]
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