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Treasury Adds New Program Elements to Avert Foreclosures

The Treasury announced new initiatives under the administration’s Making Home Affordable program late last week to provide additional options for homeowners facing foreclosure. The first of the two new program components is intended to help borrowers obtain modifications in those markets experiencing severe home price declines.

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President Signs Mortgage Bills

President Barack Obama signed two housing bills into law on Wednesday afternoon – one that provides additional foreclosure relief and a second that targets mortgage fraud and other criminal activity related to federal assistance programs.

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Record Foreclosures Continue In April

One in every 374 housing units in the United States received a foreclosure filing in April, according to RealtyTrac’s Foreclosure Market Report released last week. April’s national foreclosure rate was the highest posted since RealtyTrac began issuing its report in January 2005.

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Huntington Bank and Columbus Housing Group Work to Save Homes in Ohio

Huntington Bank and Columbus Housing Partnership have joined forces to stabilize homeownership in Central Ohio. The two have formed the Huntington Homeownership Alliance, a three-year, $10 million project that will provide the area’s residents with homeownership counseling, foreclosure avoidance services, and more affordable mortgages.

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Ford Foundation Funds Foreclosure Buys

The Ford Foundation has committed $50 million to a new nonprofit venture to help municipalities purchase banks’ foreclosed homes. According to the Wall Street Journal, the investment is one of the largest made by a foundation to help alleviate the effects of the housing crisis.

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Report: Delinquencies Lowest in 12 Months

Jacksonville, Florida’s Lender Processing Services (LPS), Inc. released its latest LPS Mortgage Monitor this week, which provides mortgage industry performance indicators as of March month-end. Among the findings, LPS reported that the number of newly delinquent loans declined in March to 7.

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RealtyTrac Goes International

On Tuesday, RealtyTrac announced a strategic alliance with global real estate portal Enormo that will give Enormo’s international user base of potential homebuyers and investors unique access to RealtyTrac’s database of U.

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