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FSBO, For Sale by Owner Home Real Estate Directory News

Obama administration bolsters homeowner lifeline (Reuters)

A new home development is shown in Miami in this January 26, 2010 file photo. Housing-related stocks declined after data showed sales of new single-family homes fell for the first time in four months in December of 2011 and were shy of Wall Street expectations. The data followed the soft pending home sales report on January 25, 2012 and dented optimism that the housing market may have reached a bottom. REUTERS/Joe Skipper/Files (UNITED STATES - Tags: BUSINESS REAL ESTATE)Reuters - The Obama administration, in an election-year bid to help distressed homeowners, on Friday expanded its main foreclosure prevention program, and pushed for Fannie Mae and Freddie Mac to forgive mortgage debt.



Subpoenas issued to financial firms in expanded probe (Reuters)
Reuters - The Justice Department issued civil subpoenas to 11 financial institutions as part of a new effort to investigate misconduct in the packaging and sale of home loans to investors, Attorney General Eric Holder said on Friday.

Justice unit to probe mortgage-backed securities (AP)

Attorney General Eric Holder announces the formation of the Residential Mortgage-Backed Securities Working Group, Friday, Jan. 27, 2012, during a news conference at the Justice Department in Washington. President Barack Obama directed Holder to collaborate with several state attorneys general and other federal entities to investigate those responsible for misconduct contributing to the financial crisis through the pooling and sale of residential mortgage-backed securities. This working group will be operated out of the President's Financial Fraud Enforcement Task Force, which is chaired by Holder. (AP Photo/Cliff Owen)AP - Federal and state law enforcement officials announced Friday they have launched a fraud-fighting unit, starting with 55 prosecutors and investigators, to root out wrongdoing in the market for residential mortgage-backed securities.



US gov't to extend and expand foreclosure program (AP)
AP - The Obama administration said Friday that will expand its signature foreclosure-prevention program to try to help those with heavy debt loads avoid losing their homes.

Analysis: Banks expect to spend less on bad mortgages (Reuters)
Reuters - Even as President Barack Obama is calling for more assistance for struggling mortgage borrowers, major banks are looking forward to spending less to handle problem home loans.

D.R. Horton profit beats on higher home orders (Reuters)
Reuters - D.R. Horton Inc , the top U.S. homebuilder, posted a first-quarter profit that beat market expectations, helped by a surge in orders indicating a stabilizing housing market, and said it was looking at spring selling season with "cautious optimism."

World stocks slide as US growth data disappoint (AP)

Traders work on the floor of the New York Stock Exchange January 27, 2012. REUTERS/Brendan McDermid (UNITED STATES - Tags: BUSINESS)AP - World stocks turned lower on Friday after official data showed the U.S. economic recovery was not as fast as many had hoped.



Gingrich, Romney attack each other on foreclosures (AP)
AP - Rivals Newt Gingrich and Mitt Romney are trading barbs over their income from mortgage firms Fannie Mae and Freddie Mac.

Rate on 30-year fixed mortgage rises to 3.98 pct. (AP)
AP - The average rate on the 30-year fixed mortgage rose this week for the first time this month, though it remained below 4 percent for the eighth straight week.

Mortgage rates for the past 52 weeks, at a glance (AP)
AP - Mortgage rates for the past 52 weeks, at a glance


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