Fed moves to limit foreclosures. Post 118


Fed takes major step toward stalling foreclosures

January 27, 2009

WASHINGTON (Reuters) – The Federal Reserve on Tuesday took a step toward easing mortgage foreclosures threatening millions of Americans, announcing that it would write down troubled mortgages to keep people in their homes.

Fed Chairman Ben Bernanke said the initiative would specifically include $74 billion of assets held in connection with the bailout last year of Bear Stearns and American International Group.

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MI foreclosure rate leveling off. Post 117


MI foreclosure rate leveling off

FLINT News Flint, MI January 07, 2009

Officials see indications that foreclosures are starting to level off

GENESEE COUNTY, Michigan – Bank foreclosures in the county kept rising in 2008, but there were signs in those gloomy numbers that the sheriff’s sales are starting to level off.

The year-end figures reflected the lowest rate of increase in the Flint area in four years and the first time . . .

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