Saturday, August 22, 2009

Cape May County Foreclosures Rise

by Nan Woodward

Are you aware that there is help out there for anyone experiencing foreclosure threats? And that it is FREE?

You can find financial assistance and guidance all over the state of New Jersey.

Foreclosure filings in Cape May County increased 324% from June to July, 2009. You must look for this help before the bank actually foreclosures. Don't wait.

Check out NJHMFA Mortgage Assistance Pilot Program and Mortgage Stabilization Program.

The New Jersey Judiciary Foreclosure Mediation Program has conseling and mediation for homeowners in need of help. You can reach them at the following number:


Don't wait until it is too late to look for help. You know you are experiencing a problem making payments on your mortgage loan. Lenders actually don't want to foreclosure on your home. There are too many homes in the market now. They want you to make payments so they can collect interest on the loan.

Take this advise and call now.

Nan Woodward

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Friday, August 14, 2009

Fed: Recession Ending, Rates Left Alone

The Federal Reserve ended its policy-making meeting Wednesday with the declaration that the recession is ending and it would move toward more normal policies.

The Fed said, “Economic activity is leveling out.” It added that it expected inflation would remain “subdued for some time.”

The Fed said it will keep the short-term key interest rate near zero, but it will end its program to buy $300 billion worth of Treasury bonds by the end of October. Buying bonds was one of the Fed’s efforts to drive down the cost of home mortgages.

“In a way, it’s more of a thumbs-up than if they had said they were continuing the Treasury-buying,” said Edward McKelvey, an economist at Goldman Sachs. “They’re saying that things are going according to plan, and that the policy is O.K.”

Source: The New York Times, Edmund L. Andrews (08/12/2009)

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