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Resentment Grows Over Paying For Others' Foreclosure Misery · Comment Fox News: Michelle Fry is a suburban Atlanta homeowner who has seen the value of her modest one-family home drop by more than half in the past year. She now sees a national mortgage bailout plan that appears to reward people who bought more house than they could afford and can’t pay their bills. And she has a simple question for President Obama: “Why am I paying for them?” Octuplets' Family Reportedly Faces Foreclosure · Comment CNN: The California home where Nadya Suleman plans to raise her 14 children is at risk of foreclosure, CNN affiliate KTLA reported Wednesday. Mortgage Help: Do You Qualify? · Comment CNN: President Obama’s new real estate rescue plan offers two key possible benefits: More refinancing opportunities and greater chance for a loan modification. California Foreclosure Center Shows Obama Challenge · Comment Bloomberg: It has taken Susan Erb just three years to see the value of her Merced, California, home plunge by more than half to $350,000. Next month, her mortgage payment jumps 20 percent to $3,321 and she knows she can’t afford it. Her bank won’t rework the loan unless she stops paying altogether. Demand Original Paperwork - Halt Foreclosure Proceedings · Comment CNBC: Kathy Lovelace lost her job and was about to lose her house, too. But then she made a seemingly simple request of the bank: Show me the original mortgage paperwork. And just like that, the foreclosure proceedings came to a standstill. Q&A On The Foreclosure Plan, And What It Means For You · Comment Anderson Cooper/360: Questions and Answers for Borrowers about the Homeowner Affordability and Stability Plan from the U.S. Department of Housing and Urban Development. Drop In Foreclosures Isn't Bright Spot It Seems · Comment Smart Money: Foreclosure filings declined an average 10% across the country in January, compared with December, according to RealtyTrac. Two of the nation’s most badly foreclosure-battered states, Florida and California, registered higher-than-average drops, of 20% and 14%, respectively. Nevada, which has the highest foreclosure rate in the country, saw a decrease of 4% Awaiting Treasury, Banks Stall Foreclosures · Comment Diana Olick: As precious few details emerge from the Treasury department on the $50 billion housing rescue plan, the big banks are temporarily halting foreclosures. CNBC: Citigroup, JPMorgan Chase and Morgan Stanley said they had placed a moratorium on foreclosing on some home loans to give the government time to launch a $50 billion mortgage relief program. Chicago Area Churches Team Up With City To Fight Foreclosures · Comment Medill Reports: Report From Top-Ranked Real Estate Brokerage Site Measures Popularity of U.S. Cities and Neighborhoods by Number of Home Searches and Sales-to-List Price Ratios in 31 Major Metropolitan Markets Foreclosure Fix: Obama's Options · Comment CNN/Money: This much we know — the Obama administration wants to set aside between $50 billion and $100 billion to address the foreclosure crisis. But how exactly officials plan to address this bear of a problem remains to be seen. |
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