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foreclosure help: The Administration's Foreclosure Program - In Need of Major Changes - 11/30/09 10:29 PM
With foreclosures still occurring in record numbers, the administration has announced that it will be making some changes to its "Home Affordable Modification Program." 
The original $75 billion Treasury program was put into effect to help potential foreclosure victims by enticing the banks to create loan modification programs for those who needed them.  Under the plan, lenders who agreed to lower payments for troubled borrowers were to be paid $1,000 initially for each loan.  That was to be followed by $1,000 annually for up to three years. 
It was all part of the government's $700 billion financial bailout  aimed at providing incentives for … (59 comments)

foreclosure help: Help for "Under Water" Homeowners - Massachusetts Blog - 08/15/09 12:24 PM
Despite some of the optimism that has been generated from an increase in home sales recently, in Massachusetts and nationally, an epidemic of upside down mortgages is casting a long shadow on the housing market.  
According to Zillow.com 25% of all mortgage holders are currently under water, owing more than their home is worth.  This figure could climb to 30% by the middle of next year if foreclosures continue to take their toll.
Existing-home sales in the Northeast jumped 15.0 percent during the second quarter which may have been fueled by historically low interest rates coupled with an $8,000 tax credit to first … (2 comments)

 
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Claudette Millette - Metrowest Mass Buyer Broker

Ashland, MA

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