LATEST NEWS

10-16-08:
NJ to Help Avoid Foreclosures, Economic Chief Says
By David M. Levitt - Bloomberg.com - New Jersey plans to provide ``major sums'' to help homeowners avoid foreclosure, said Jerold Zaro, the state's new economic development chief.
The state will help groups buy and lease back homes and require mediation to assist those in danger of losing property to foreclosure, Zaro said at a speech in Teaneck today to a group of real estate executives. The state also will provide $10 million for home heating oil assistance and $2.5 million to food banks, he said.
Zaro gave what he called a ``sneak preview'' of a speech Governor Jon Corzine plans to make today to a joint session of the state legislature.

07-08-08:
PA Governor Rendell Says New Mortgage Reform Laws Will Protect Homeowners, Save Homes
READING, Pa. , July 8 /PRNewswire-USNewswire/ -- Governor Edward G. Rendell today signed five bills to protect homebuyers, strengthen oversight of the mortgage industry and end key lending practices that leave homeowners vulnerable to foreclosure. He also urged current homeowners who are worried about meeting their mortgage obligations to call the state for help.
"I'm pleased to finally sign these important protections for homebuyers," Governor Rendell said. "I thank Rep. Pete Daley and Sen. Pat Browne for sticking with this package year after year until it got done. Getting a mortgage is the largest financial transaction in

02-26-08:
Home Prices Drop, Foreclosures Rise as Slump Deepens (Update4)
By Sharon L. Lynch and Bob Ivry-Feb. 26 (Bloomberg) -- U.S. home prices plummeted at the end of last year and bank seizures of property almost doubled in January, indicating the housing slump is deepening.
Home prices had their biggest fourth-quarter drop since 1991, the Office of Federal Housing Enterprise Oversight said today. The S&P/Case-Shiller home-price index showed prices in 20 metropolitan areas fell in December by the most on record. Repossessions rose 90 percent to 45,327 last month from the same period a year ago, said RealtyTrac Inc., a seller of foreclosure statistics.