US lays out sweeping program to ease mortages (AFP)
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AFP - The US government Tuesday announced a sweeping program to ease payment terms for hundreds of thousands of homeowners struggling to service mortgages held by home finance giants Fannie Mae and Freddie Mac.
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November 11th, 2008
Meltdown 101: Mortgage help from banks, government (AP)
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AP - With more than 4 million homeowners behind on their mortgage payments, the government and major banks are scrambling to help at-risk borrowers avoid foreclosure.
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U.S. housing agencies to widen homeowner help (Reuters)
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Reuters - The regulator for the two largest U.S. mortgage finance companies on Tuesday unveiled a plan to cut monthly payments for struggling homeowners in an effort to reverse a wave of defaults threatening the economy.
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Consumer spending worries clobber stocks (AP)
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AP - Volatility slammed Wall Street again Tuesday as the reality hit investors that few industries are safe from the consumer spending slump whether they're building homes, making cars or selling coffee. The Dow Jones industrial average fell about 150 points.
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US lays out sweeping program to ease mortgages (AFP)
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AFP - The US government Tuesday announced a sweeping program to ease payment terms for hundreds of thousands of homeowners struggling to service mortgages held by home finance giants Fannie Mae and Freddie Mac.
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Stocks cut losses after BlackRock comments (Reuters)
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Reuters - Stocks cut losses in afternoon trading on Tuesday, after BlackRock President Robert Kapito said a $30 billion Bear Stearns mortgage portfolio could end up being worth more than its market value implies and housing agencies said they would widen help for homeowners.
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