The default rate has been steady and falling as home prices continue to rise in most parts of the country and sales of both new and existing homes increase. The default rate for both first and second mortgages fell in April. Additionally, most cities saw declining default rats, with the exception of New York.
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FHFA: Debt Reduction is ‘Still Under Consideration’
The Federal Housing Finance Agency said it was looking for a "responsible solution" to the issue of mortgage debt reduction.
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