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Foreclosure

Fannie, Freddie Suspend Foreclosures

Fannie Mae and Freddie Mac announced this afternoon that they are suspending all foreclosures on mortgages that the two companies own. Both companies have ordered their national networks of mortgage servicers and foreclosure attorneys to halt all foreclosure sales and evictions involving occupied single-family properties.

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Officials Feud Over Foreclosure Relief for Homeowners

The debate between two federal officials — Treasury Secretary Henry Paulson and Federal Deposit Insurance Corporation (FDIC) Chairman Sheila Bair — over whether to use money from the $700 billion bailout fund to help at-risk homeowners avoid foreclosure took center stage when both regulators testified before the House Financial Services Committee today.

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ForeclosureS.com: October Foreclosures Drop to Near 2008 Lows

Foreclosures fell for the second month in a row in October to nationwide lows not seen since last February, according to the latest U.S. Foreclosure Index from ForeclosureS.com. Nationally, October pre-foreclosure filings — which can include notice of default and/or foreclosure auction — were down more than 10 percent from August’s highs, and nearly 7 percent from September’s numbers.

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