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UPDATE 2-UK construction slump boosts case for big rate cut - Forbes
LONDON, Dec 2 (Reuters) - Britain's construction sector shrank last month at its fastest pace since records began a decade ago, building pressure on the Bank of England to cut rates by at least another percentage point on Thursday. Tuesday's PMI ...

Sheila Bair's Mortgage Miracle - Wall Street Journal
What do you do if you've spent your career encouraging mortgage loans to people who can't repay them? Barney Frank's answer is to grill federal officials on why they aren't preventing foreclosures. Infuriated at the difficulty of modifying mortgages ...

Donna Brazile: Hungry for change -- and simply hungry - State Journal-Register
On Tuesday, Nov. 4, we were all witnesses to the momentous election of Barack Obama, whose simple campaign theme of change fed hope to millions of Americans hungry for new leadership and a reason to become engaged in the governance of their nation ...

Lower US mortgage rates offer hope to Main Street - Reuters
CINCINNATI, Nov 26 (Reuters) - For Cincinnati mortgage broker Greg Humphrey, the Federal Reserve's move to help homebuyers on Tuesday came just in time to save one client a pile of money -- and he hopes it will be a lifeline for others. "We were ...

Bank's investment shows hope for economy - Press Republican
While large, multinational banks such as Citibank are getting bailed out by the federal government, Community Bank is making a multi-million-dollar investment in the North Country with its purchase of the local branches of Citizens Bank. It's a ...

Mortgages: Goal is to lower interest rates - USA Today
The government on Tuesday said it will buy up to $100 billion in mortgages held by Fannie Mae and Freddie Mac and the Federal Home Loan Bank, and it will purchase up to $500 billion of mortgage securities backed by the housing giants and Ginnie Mae ...

Classic holiday stories inspire during tough times - Associated Press
Hard times have you down this holiday season? Take a trip to the library for some inspiration from treasured stories of Christmas past. The mortgage meltdown, job squeeze and clash between rich and poor evoke long-popular holiday tales with ghostly ...

Washington Bureau - Charlotte Business Journal
Foreclosures continue to outpace efforts to modify mortgages, prompting calls for the federal government to provide more robust relief to struggling homeowners. In October, foreclosure filings were reported on nearly 280,000 properties in the U.S., a ...

Federal Reserve to buy more mortgage related assets - Wichita Business Journal
Report shows California homes selling faster Raleigh home prices remain strong Feds hope to unfreeze SBA, consumer lending Fed to buy asset-backed securities Federal Reserve to buy more mortgage related assets The Federal Reserve has made another ...

Where to get mortgage help - AZCentral.com
Bank of America has canceled 2,000 foreclosures in the Valley. Fannie Mae and Freddie Mac have declared a "Christmas truce" -- no new foreclosures between Nov. 26 and early January. Those are some of the first steps lenders have taken to provide ...

Today's Mortgage Terms starting with N

Notice of Default: A step in the foreclosure process in which the lender formally informs the court that the borrower is in late in payments.

Non-Assumption Clause: A provision in a mortgage contract preventing the assumption of the mortgage by another borrower without the lenders permission.

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