Bills Aim to Stem Home Losses

Legislation intended to stem the continuing tide of home foreclosures was brought to both houses of Congress in January. Rep. Dennis Cardoza, D-Atwater, re-introduced a bill that would make it easier for home owners to refinance existing mortgages to net more manageable monthly payments. He proposed this bill, called the HOME Act, in 2009. Last …

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Free Online Resource Aims to Help Americans Facing Foreclosure

Free online software for the creation of personalized mortgage modification applications under the federal Home Affordable Modification Program (HAMP) and otherlender programs is now available from FreeMortgageFix.com. Borrowers can complete an application to modify existing home loans via the site’s user dashboard. “Paperwork is undeniably the No. 1 reason for the delays with the HAMP …

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Mortgage Employment Cut in Half in Last Five Years

More than a half million people worked in mortgage lending as of October 2005 — the highest month on record. Five years later, fewer than half are left. Headcount in real estate finance fell by another thousand during the third quarter of this year, according to industry data released Monday. During the July-September period, 3,216 …

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Current Mortgages Turning Delinquent Rises for First Time in a Year

During the third quarter of this year, 2.7 percent of current mortgage balances transitioned into delinquency, according to new data from the Federal Reserve Bank of New York. That’s up from 2.6 percent that became newly delinquent in the second quarter. Fed officials called the quarterly increase “slight” but noted that the rise follows a …

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