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Foreclosure News in a Minute

21 May 2010 599 views No Comment

PaperBoy
Here is a brief synopsis on the latest foreclosure news to hit the press.

Washington Post: In an attempted to curb Maryland foreclosure rates, state legislation passed a program giving the homeowners a legal right to mediate with their lenders. Under the mediation program the lender is required to send a loan modification application to the defaulter.

Reuters: According to a recent poll, “U.S. consumers are less interested in buying a foreclosed home than they were a year ago.” Reporter Lynn Adler suggests this could lead to an increased backlog of foreclosed homes furthering the housing slump.

CNNMoney.com identifies 5 ‘economic fault lines’ that may hasten a full recovery: Jobs, housing, credit, government and spending, and Europe.

PR Newswire: Recent press release reports strategic default workshop offered by Oppenheim Law.

CNNMoeny.com: Headline, “Foreclosures plateau – finally. Repossessions soar.” Well which is it; Foreclosures or Repossessions? Because they are one in the same.

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