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From the monthly archives:

March 2008

Pennsylvania Foreclosures: Something to talk about

by Danny GibsonMarch 31, 2008

In a recent event, U.S. Senator Bob Casey visited Pittsburgh, PA to discuss about the alarming increase in Pennsylvania foreclosures and how they could put a stop to it. He delivered a statement that referred to the overall mortgage crisis in the country and how it has affected home sales and increased real estate foreclosures.

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Fed Indicts Mortgage Fraud Perpetrators

by Robert ShultzMarch 28, 2008

In Sacramento, Federal prosecutors have discovered mortgage fraud activities that have resulted to 100 homeowners losing almost $13M in equity. The said scheme is being conducted by a group of locals led by Charles Head.

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Short Sale Seems Is The Only Answer to Arizona Foreclosures

by Robert ShultzMarch 26, 2008

The recent spate of Arizona foreclosures have brought life to a standstill for homeowners spread across the state. To ease the situation, a new rule has been passed by the federal legislation, which states that homeowners over-burdened by mortgage payments can get some relief by making a short sale. So far, this was not a law and hence, homeowners across Arizona and in various cities like Tucson, Phoenix, Mesa, Scottsdale, Colorado City, lake Havasu, and Prescott have been subjected to delinquency.

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Market News, Not Always Accurate

by Robert ShultzMarch 24, 2008

An article published in the local newspaper of Elizabethtown, Kentucky brought about cries of outrage. The said article suggested that with the not-so-good housing condition, buying a home is not recommended

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White House: Helping Buyers by Simplifying Loan Process

by Anthony ParkerMarch 17, 2008

The White House is set to unveil a new proposal that will provide potential home buyers with basic mortgage terms information and savings in closing costs that amounts to $700.

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MFA Mortgage Hopes to Sell Assets to Improve Leverage

by Anthony ParkerMarch 13, 2008

In order to reduce their debt-to-equity leverage, MFA Mortgage Investments Inc is planning to sell assets. The decision comes in the wake of the current financial crisis in the credit industry.

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Tennessee Foreclosure Properties Jump Again In January

by Anthony ParkerMarch 12, 2008

January was another strong month for foreclosure properties in Tennessee, as the state climbed the rankings to hold the 16th spot among states with the highest rate of foreclosures.

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Investors Pull Back as Foreclosures Soar

by Robert ShultzMarch 11, 2008

As the tide of foreclosures continues to cause havoc in the national housing market, investors such as Citigroup is looking to cut back their mortgage holdings by as much as 20 percent. This means that less money will be available for lending and buying mortgage securities, further fueling the current mortgage crisis. The high foreclosures rate is also not helping the situation.

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2007 has been a high for Colorado Foreclosures

by Anthony ParkerMarch 6, 2008

Colorado foreclosures have shown an upward progression all through 2007 and the trend is expected to continue into 2008. This news comes in the light of fact that the entire nation is plagued with high rate of foreclosures and people are working with lenders and the government to find effective solutions to fight foreclosures.

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New York Foreclosures have seen better days

by Robert ShultzMarch 3, 2008

New Yorkers were hit by news in the last quarter of 2007 that said that one of the primary reasons behind a high number of New York foreclosures is dubious fees. As if the high interest rates of mortgage loans were not enough. According to a study conducted by Katherine Porter from the University of Iowa, it was found that most of the mortgages carrier a questionable fee, which can make loan servicing lucrative but foreclosures inevitable.

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