Published On March 2nd, 2008

At first glance, one may ask why people would continue to get themselves deeper and deeper into debt once they are in a foreclosure situation. The answer is simple: This is how the banks designed the modern credit system. People will borrow and borrow from wherever they can get the money regardless of the future repercussions.

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Published On March 2nd, 2008

The President annouced a new plan last week to help borrowers who may go into default on their home loans due to adjustable rate mortgages. it definitely looks like it will help “some” people.

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Published On March 2nd, 2008

In a nearly unprecedented move the Federal Reserve early Tuesday cut the Federal discount rate by .75 of a point, the largest single rate cut in 20 years. The move did not come at one of the Fed’s regularly scheduled meetings but rather overnight in response to some truly dreadful news from foreign stock exchanges over the last two days. 

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Published On March 2nd, 2008

Hot on the heels of its surprise inter-session rate cut of 75 basis points last week, the Federal Reserve cut key interest rates again, the fifth straight cut since September 2007.

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Published On March 2nd, 2008

The Federal Reserve has been on a rate cutting spree once more. Many mortgage applicants are calling their mortgage representative and expecting a lower interest rate. Others who have been waiting to refinance are puzzled as to why mortgage rates have not moved lower during the recent five Fed rate cuts. This is difficult to explain to consumers who have watched a 2.25% reduction by the Fed with very little benefit in mortgage rates.

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Published On March 2nd, 2008

There is some more good news for homeowners who are delinquent on their mortgages: The program, dubbed “Lifelife” was announced yesterday and will delay foreclosure for tens of thousands, and give them the time they need to work out modifications with their lenders

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