Tag: loans

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News: President Obama to Announce New Plan for Underwater Homeowners

The Wall Street Journal reports that the President will announce a “short refinance” program on Tuesday. Under this program: banks and other creditors that write down mortgages to less than the value of the property can essentially hand off the reduced loan to the government. The process involves refinancing borrowers into loans backed by the […]


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1 Million Homes May be Lost to Foreclosure In 2010

Over 1 million homes could be lost to foreclosure this year A recent Associated Press article is reporting that: “More than 1 million American households are likely to lose their homes to foreclosure this year, as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans.” And that: […]


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