Mortgage Foreclosure & Refinance Resource

“Sales are probably not going to rebound any time soon because the mortgage conditions continue to get tighter,” Mr. Gault said. He said that the excess supply meant that “prices have still got to come down some more.”
Home sales have begun to stabilize as sharply reduced prices lured buyers back into the market in July, [...]

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The president of the Federal Reserve Bank of San Francisco said Wednesday the mortgage crisis and financial services turmoil are likely to be a “major drag” on the national economy through 2009.Janet Yellen told a conference of local business leaders that because of those issues, she expects little or no growth in the national U.S. [...]

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As hundreds of thousands of American home owners fall behind on their mortgage payments, more people are turning to short-term loans with sky-high interest rates just to get by.
While figures are hard to come by, evidence from nonprofit credit and mortgage counselors suggests that the number of people using these so-called “pay day loans” is [...]

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