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U.S. tries new tack on housing |
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Written by Webmaster
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Friday, 21 November 2008 |
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The Bush administration said Wednesday that it was changing its nearly-moribund mortgage rescue plan in an effort to spark more lenders and homeowners to participate.
Citi to modify $20 billion in home loans
Citigroup says it will expand its foreclosure prevention efforts and try to keep 130,000 troubled borrowers with $20 billion in mortgages in their homes.
 House hearing spotlights mortgage rescue plans
Rep. Barney Frank, chairman of the House Committee on Financial Services, highlighted the need for a bailout program for troubled homeowners on Wednesday. But he stressed that not all borrowers should necessarily be rescued.
 Pay Day Loan 85,000 homes lost in October
As government and industry scrambled to stem the housing crisis, another 84,868 homes were lost to foreclosure in October, according to a report released Thursday.
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Last Updated ( Friday, 21 November 2008 )
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