Mortgage Foreclosure & Refinance Resource

JPMorgan Chase and Citigroup are halting home foreclosures while the Obama administration develops its plans to help the battered American housing market.
JPMorgan’s chief executive, Jamie Dimon, said the bank planned plans to halt new foreclosures for owner-occupied home loans through March 6. Mr. Dimon made the pledge in a letter to Representative Barney Frank, the [...]

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Today, Treasury Secretary Henry Paulson, with the support of President George W. Bush, unveiled a plan to aid some of the mortgage holders survive the jump in their ARM mortgages.

To qualify under the bailout,

The loan must have been issued sometime between Jan. 1, 2005 and July 31, 2007

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The number of foreclosures jumped to 223,538 in September, 99% higher than the number last year, though down 8% from August, according to RealtyTrac, which compiles housing data. California had the largest number of foreclosures, with 51,259, and Florida was second, with 33,354.
With statistics like that lenders are becoming more flexible in their negotiations with [...]

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