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Mortgage Refinance and Loan Modification News and Guides

JPMorgan Chase and Citigroup are Halting Foreclosures

February 13th, 2009 · No Comments

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, [...]

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Tags: "mortgage modification" · Foreclosure Information · Government Bailout

The Fed Launches Another Mortgage Bailout Plan

November 25th, 2008 · No Comments

The Federal Reserve threw a massive life-line to consumers on Tuesday with two new programs aimed at making it easier for them to obtain loans for homes, cars and on credit cards. Under the new mortgage program, the Fed will buy up to $100 billion of debt issued by government-sponsored mortgage enterprises Fannie Mae, Freddie [...]

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Tags: Government Bailout

Roundup of Lenders Participating in the Streamlined Mortgage Modification Plan

November 13th, 2008 · 1 Comment

Fannie Mae, Freddie Mac and HOPE NOW, along with the Treasury and Federal Housing Finance Agency (FHFA), devised a free market plan to help only those homeowners whose mortgages are guaranteed toxic. In compliance with the Bush Administration doctrine – assist no homeowner who can make his payments or can be foreclosed profitably. [Sarcasm homegrown]. [...]

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Tags: "mortgage modification" · Government Bailout