Losing Their Grip on Homeownership

Declining Values Put Many Who Took Out Home-Equity Loans in a Bind That May Worsen 
NEW YORK — Homeowners started losing hold of their homes years before spiking foreclosures and the housing slump slammed the economy.
Piece by piece, some gave away part of their homes by tapping equity to take cash out to pay for cars, [...]

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30-Year Rates Drop to 4-Year Low

Rates on 30-year mortgages dropped for a fourth straight week, reaching the lowest level in nearly four years and raising hopes that low rates will help spur a rebound in the hard-hit housing industry.
Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 5.48 percent this week, down from 5.69 percent last week.It was the fourth [...]

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