Summary Box: Plan to help "underwater" borrowers (AP)
AP - NEW FORECLOSURE PLAN: The Obama administration is trying to revive its attempts to tackle the foreclosure crisis with a new effort to assist homeowners who owe more on their properties than their homes are worth.

Gov't launches plan to help "underwater" borrowers (AP)

AP - The Obama administration is trying to jump-start its sputtering attempts to tackle the foreclosure crisis with an effort to assist homeowners who owe more on their properties than their homes are worth.

MGIC added $1.2B in mortgage coverage in August (AP)
AP - Private mortgage insurer Mortgage Guaranty Insurance Corp. said Friday it added $1.2 billion in new primary insurance coverage in August and the number of delinquent loans it insures declined.

Mo. drops appeal of real estate ballot measure (AP)
AP - An initiative barring taxes on home and land sales is clear to appear on Missouri's ballot after the state dropped an appeal Friday of a judge's decision ordering the election.

Con man could get life under Calif. 3-strikes law (AP)
AP - A man accused of bilking elderly South Los Angeles residents out of their homes in a foreclosure scam is facing a potential life sentence in a rare use of California's three-strikes law for a white-collar crime.

Oil prices rise after mixed economic news (AP)

AP - Oil prices ended higher Thursday after an initial retreat as investors put a positive spin on reports about jobs, manufacturing and home sales.

Summary Box: Mortgage rates hit low of 4.32 pct. (AP)
AP - RECORD LOWS: Mortgage rates fell to the lowest levels in decades for the tenth time in 11 weeks, mortgage buyer Freddie Mac said Thursday. The average rate for a 30-year fixed loan was 4.32 percent. The 15-year fixed loan hit 3.83 percent.

How to Get a Government-Backed, Zero-Down-Payment Mortgage (U.S. News & World Report)
U.S. News & World Report - More than four years after real estate values peaked, the historic plunge in home prices remains fresh in the minds of mortgage lenders. After taking painful losses on delinquent home loans, banks have imposed tougher standards--such as increased credit scores and higher down payment requirements--on applicants of all stripes. And as investors fled for the hills, the exotic mortgage products that helped fuel the real estate boom have largely disappeared from the private market. But that doesn't mean all buyers need a big pile of cash to snag a home loan. ...

Pending home sales rise 5.2 percent in July (AP)

AP - The number of buyers who signed contracts to purchase previously occupied homes increased in July but remained well below last year's levels, a sign that demand for housing remains weak.

Summary Box: Pending home sales up 5.2 pct in July (AP)
AP - PENDING HOME SALES RISE: The number of buyers who signed contracts to purchase previously occupied homes increased by 5.2 percent in July from June.

Mortgage rates hit record low: Freddie Mac (Reuters)
Reuters - U.S. mortgage rates fell in the past week to the latest in a series of record lows as yields on government debt dropped, according to a survey released on Thursday by Freddie Mac, the second-largest U.S. mortgage finance company.

Communities key in foreclosure fight: Fed officials (Reuters)

Reuters - Two top U.S. Federal Reserve officials on Thursday called for a more community-focused approach to the country's ongoing foreclosure crisis, which is weighing on its economic recovery.

Instant View: Pending home sales rise in July (Reuters)
Reuters - Pending sales of previously owned U.S. homes rose unexpectedly in July, an industry group said on Thursday, suggesting a tax credit-related housing market decline was close to bottoming.

Mortgage rates hit decades-low of 4.32 percent (AP)

AP - Mortgage rates fell to the lowest level in decades for the tenth time in 11 weeks, as investors worried about the economy.

US pending home sales bounce back (AFP)

AFP - US pending home sales rose dramatically in July, a trade group said Thursday, promising a much-needed boost to the sluggish housing market.

Pending home sales rise 5.2 percent in July (Reuters)

Reuters - Pending sales of previously owned U.S. homes rose unexpectedly in July, an industry group said on Thursday, suggesting a tax credit-related housing market decline was close to bottoming.

Court battle set over giant NYC housing complex (Reuters)
Reuters - The future of an 80-acre New York apartment complex will be at stake on Thursday as a judge considers whether a venture led by a prominent hedge fund investor may conduct a foreclosure auction.

Banks to allow local groups to buy foreclosures (AP)
AP - Major banks are agreeing to give local governments and nonprofit groups the ability to buy foreclosed homes before they are sold to private investors.

Mortgage applications rise 2.7 pct on low rates (AP)
AP - Mortgage applications rose 2.7 percent last week as more borrowers took advantage of the lowest rates in decades to reduce their monthly loan payments.

Construction activity declines 1 percent in July (AP)

AP - Construction spending tumbled in July to the lowest level in a decade, as the housing market struggles in the weak economy and without a popular home-buying tax credit.

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