Mortgage Foreclosure & Refinance Resource

NOBODY wins when a home enters foreclosure — neither the borrower, who is evicted, nor the lender, who takes a loss when the home is resold. That’s the conventional wisdom, anyway.
The reality is very different. Behind the scenes in these dramas, a small army of law firms and default servicing companies, who represent mortgage lenders, [...]

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Arizona Sen. John McCain said Tuesday that government help related to the slow housing market and resulting credit crunch should go to homeowners, not speculators. Any assistance to the financial sector should be based on preventing a major economic collapse, he said.
McCain addressed the housing market and financial problems while in California. California, Arizona, [...]

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Today nation’s top economic policymakers, hoping to prevent a further mortgage bust, proposed a broad series of reforms aimed at tightening oversight of financial institutions.
The changes include

Tougher disclosure requirements for banks and Wall Street firms
A nationwide licensing system for mortgage brokers
New rules for credit rating agencies

“This effort is not about finding excuses or scapegoats,” said [...]

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