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Car, Home and Credit Card Interest Rates to Increase

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Car, Home and Credit Card Interest Rates to Increase Interest rates are beginning to rise once again as the economy begins to take hold once more. This will place many consumers in a bind who are still struggling to make payments on things they own. Economists are predicting that rates are being raised to prevent […]

Residential Construction Spending Up Slightly

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Residential Construction Spending Up Slightly The U.S. Census Bureau recently released their February read of construction spending showing a continued slowing of the government’s tax-carrot fueled bounce in residential construction spending while indicating continued weakness to non-residential construction spending. Even with the governments tax-credit gimmick, residential construction spending is still 3.85% below the level seen […]

Homeowner Aid Expanded

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Homeowner Aid Expanded The Obama administration announced programs to help U.S. homeowners avoid foreclosure, including subsidies for borrowers who owe more than their home is worth. The plan expands Treasury Department and Federal Housing Administration efforts and uses funds from the $700 billion Troubled Asset Relief Program. The administration faced a week of criticism from […]

New Legislation Introduced to Remove Marriage Penalty

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New Legislation Introduced to Remove Marriage Penalty Legislation was recently introduced by Representative Eliot Engel (D-NY17) that would amend the Internal Revenue Code of 1986 eliminating the so called “marriage penalty” from the Home Buyer Tax Credit. The current guidelines require both spouses to have the same exact ownership history in order to claim the […]

Pending Home Sales Down – Severe Weather To Blame

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Pending Home Sales Down – Severe Weather To Blame Pending home sales are down and additional declines are expected from abnormal weather conditions, according to the National Association of Realtors®. Moreover, the abnormally severe and prolonged winter weather, which affected large regions of the U.S., hampered shopping activity in February. The Pending Home Sales Index, […]

Federal Home Buying Support Still Wanted

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Federal Home Buying Support Still Wanted According to a new poll by the National Association of Home Builders (NAHB), Americans remain strongly committed to federal support for home buyers. Roughly 68 percent of those polled said the government should continue to support housing, and 65 percent believe the government should be doing more to keep […]

Struggling Refinance Program Extended

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Struggling Refinance Program Extended The Obama administration recently announced that borrowers with little or no equity in their homes will have yet another year to take advantage of a refinancing program that so far has made little progress. The initiative, known as Home Affordable Refinance Program (HARP), was set to expire in June. But, so […]

Foreclosure Activity Declines in January

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Foreclosure Activity Declines in January A total of 315,716 U.S. homes were mired in the foreclosure process in January, a 10% decline from foreclosure activity measured in December. That number is still 15% above the level of foreclosure activity reported in January 2009. The report shows that one in every 409 U.S. housing units last […]