-New regulations helping families to keep homes.
Global Banking News - 29 October 2013
Figures show that new regulations and rules have helped Americans to hold on to their homes.
According to available figures, National Mortgage Settlement has helped more than 643,000 Americans hold onto their homes. Banks are now helping customers refinance their homes after previously going after them to foreclose.
More than 5.3 million U.S. families have lost their homes to foreclosure since June 2007, according to the Hope Now home retention organisation. Those foreclosures helped cut the US homeownership rate to an 18-year-low of 65.1 percent in the second quarter, from 68.8 percent for the second quarter of 2005.
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|Publication:||Global Banking News (GBN)|
|Date:||Oct 29, 2013|
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