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More Than Half Leave Obama Mortgage-Aid Program

WASHINGTON (Nov. 18) -- More than half of the 1.4 million homeowners who enrolled in the Obama administration's flagship foreclosure-prevention program have fallen out. The program is intended to help those at risk of foreclosure by lowering their monthly mortgage payments. But the latest report from the Treasury...

Wells Fargo Erred in Thousands of Foreclosure Cases

WASHINGTON (Oct. 27) -- Wells Fargo admitted Wednesday it made mistakes in the paperwork for thousands of foreclosure cases and promised to fix them. The San Francisco-based bank said it plans to refile documents in 55,000 of the cases by mid-November. The company said not all those cases included errors but didn't say...

Up to 40 States Plan Joint Probe Into Foreclosure Documents

WASHINGTON (Oct. 10) - The attorneys general of up to 40 states plan to announce soon a joint investigation into banks' use of flawed foreclosure paperwork. A person briefed on the investigation said Saturday night that an announcement could come as early as Tuesday. The person spoke on condition of anonymity because the...

More Foreclosures Expected as Housing Crisis Continues

(July 29) -- In the first six months of this year, households in most of the country's largest 200 cities received more foreclosure warnings than in the first half of 2009, The Associated Press reports. High unemployment -- 9.5 percent in June, which doesn't include the millions of Americans who are no longer eligible for...

With More Foreclosures, Housing Market Far From Recovery

(July 15) -- Foreclosures hit a record high in the second quarter, reports The Los Angeles Times today. "U.S. bank repossessions increased 38 percent in the second quarter from the same period a year earlier for a record total of 269,952, according to Irvine research firm RealtyTrac. That was also a jump of 5 percent from...

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06/02/12 Fannie, Freddie Join Nev. Aid Program Source: FOX - FOX 13 - Memphis TN Fannie Mae and Freddie Mac will participate in a Nevada program that cuts loan balances for certain homeowners who are current on their mortgages and owe more than their houses are worth in what could be a model for other hard-hit states.
06/02/12 Fannie Mae and Freddie Mac join Nevada housing aid... Source: FOX - Fox 13 - Tampa Bay FL Fannie Mae and Freddie Mac will participate in a Nevada program that cuts loan balances for certain homeowners who are current on their mortgages and owe more than their houses are worth in what could be a model for other hard-hit states.
06/02/12 Put the blame on Democrats (6/2/12) Source: Reading Eagle - Reading PA President Barack Obama deserves not to be re-elected.
06/01/12 Fannie Mae Serious Delinquency rate declined in April,... Source: Calculated Risk Fannie Mae reported that the Single-Family Serious Delinquency rate declined in April to 3.63%, down from 3.67% in March.
06/01/12 GSE principal reduction in Nevada not a policy shift Source: HousingWire.com Fannie Mae and Freddie Mac will participate in a principal reduction program in Nevada, but it shouldn't be mistaken as a sign the mortgage giants will be installing a national program.