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From CNNMoney.com
Obama to push banks on mortgages
Administration plan aims to addresses emerging problem: Only a handful of homeowners are receiving permanent loan modifications.
By Tami Luhby, CNNMoney.com senior writer
Last Updated: November 28, 2009: 10:26 PM ET
NEW YORK (CNNMoney.com) -- As foreclosure casualties mount, the Obama administration is expected to announce additional steps on Monday to get long-term help for troubled borrowers.
Under the new initiative, the government will provide more resources for borrowers and will partner with organizations to offer homeowners assistance, a Treasury Department spokeswoman said. The plan also calls for increased transparency and accountability on the part of loan servicers. Continue reading >>
From CNNMoney.com
Sales activity rises more than expected in October, by 10.1%, to 6.1 million annual units.
NEW YORK (CNNMoney.com) -- Existing home sales surged in October to the highest level in more than 2-1/2 years, according to a real estate industry report issued Monday.
The National Association of Realtors reported that existing home sales rose 10.1% last month to a seasonally adjusted annual rate of 6.1 million units, up from the downwardly revised rate of 5.54 million in September. Continue reading >>