More mortgage relief from the White House – but congressional ‘ok’ doubtful

An summary update (by CAR.org) on the mortgage relief plan by the federal government, covering an article by The Mercury News: In his State of the Union Address, President Obama laid out a plan to help responsible borrowers and support a housing market recovery. Details of that plan were released yesterday. However, funding for the …

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President Obama on Loan Modifications

President Obama has made a public call for mortgage lenders and servicers to provide struggling homeowners with longer-term modifications and principal reductions when it fits the situation. Referring to the American taxpayers’ bailout of the banking system, which the president described as probably the most unpopular thing the government has ever done, Obama said, “[W]e …

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Pending Sales of Existing Homes Rise 2%

The number of contracts signed for purchases of previously owned homes rose again in December, according to data released by the National Association of Realtors (NAR) Thursday. The trade group’s pending home sales index increased 2.0 percent compared to its November reading, which was revised downward. The index is based on contracts signed in December, …

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10 tips to snag a mortgage in 2011

Mortgage lenders tightened their standards after the subprime-mortgage mess, and that won’t change this year. But mortgage loans can be had. Follow these 10 tips from MSN.com to secure a mortgage at an interest rate and under the terms that are right for you this year: 1. Have the right credit score The best combination …

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