FORECLOSURESFamilies who lose their home in a foreclosure could continue to live in the home as renters, at least temporarily, under a plan Freddie Mac plans to announce today. Freddie will offer the same deal to renters in investment properties, which is similar to a program Fannie Mae recently
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01/30/2009
INTEREST RATESThe Federal Reserve signaled Wednesday that it stands ready to use new unconventional tools, or expand existing ones, to spur lending and consumer spending that could help lift the economy out of a painful recession. Policymakers also agreed to keep a key lending rate between zero a
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01/29/2009
SHORT SALESFannie Mae is testing a small pilot program in Orlando to speed up short sales by pre-approving about 300 homes. Orlando-area Realtors say they hope the program cuts the wait time on short-sale offers from months to weeks or even days.Read the full story:http://www.floridarealtors.org/
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01/28/2009
FORECLOSURESMost congressional Democrats support a proposal that would give bankruptcy judges the power to alter mortgage terms for primary residences, saying it may the quickest way to halt the housing market's collapse. But lenders and other groups are fighting the bill, saying it's bad public
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01/27/2009
MORTGAGESMortgage hunters who want to buy a home or refinance an existing loan face new challenges, but there is money available if they can qualify. Here are eight things that can make the process easier, according to mortgage bankers and Realtors.Read the full story:http://www.floridarealtors.o
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01/23/2009
FEDERAL BAILOUT President Barack Obama's plan to award a $500 tax credit to most workers is expected to advance through a key House panel as Democrats prepare his $825 billion economic recovery proposal for a floor vote next week. The measure contains temporary spending increases for dozens o
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01/22/2009
REFINANCINGSWith mortgage rates hovering around 5 percent, many people are trying to refinance their home loans to save money. But if they're "upside-down" in their mortgage, they're not likely to be approved. "Many who don't have much or any equity are not invited to the refinance party," says G
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01/21/2009
FEDERAL BAILOUTPresident Barack Obama is taking office at a time when major banks' escalating troubles couldn't be clearer. Top officials in the U.S. and across the globe are trying to find the best way to prod banks into lending out more money, struggling for a solution 18 months after the most
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01/20/2009
APPRAISALS On Jan. 9, Fannie Mae and Freddie Mac announced revisions to their Home Valuation Code of Conduct. Starting on May 1, lenders that want to sell their loans to the two industry behemoths must follow new guidelines. Mortgage brokers and Realtors, for example, will not be allowed to choos
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01/19/2009
MORTGAGE RATESRates on 30-year mortgages set a record for a fifth straight week by dropping below 5 percent, the lowest mark since Freddie Mac started tracking the data in 1971.Read the full story:http://www.floridarealtors.org/NewsAndEvents/n1-011609.cfm
01/16/2009
