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Little Hope for Reform in Foreclosure Settlement Negotiations

New Orleans The industry spins the numbers differently each month.  Foreclosures are rising, but somehow housing markets are being revived by refinancing.  Little of it makes sense and often the information is contradictory, but the bottom line is that housing is still in dire straits across the country.  The home mortgage modification program has [...]

Frontlines in Phoenix Foreclosureville

Phoenix     A block away there was one sign still standing that said Holiday Gardens – “covenant restricted” — while the other was nothing but brick since the sign was long gone.  A couple of blocks away an old neighborhood watch sign said this was Heatherbrae or some such neighborhood.  Side by side both areas [...]

Soft Case for Home Ownership: Forced Savings/Low Interest Rates

New Orleans        Dueling columns in the Times smashed the drunken or doped spin of the Realtors Association trying to claim that the housing market was “back” and in the “Your Money” section made a soft and shrugging case for home ownership:
“Indeed, many people who are buying at the moment are locking in mortgage rates [...]