The Norris Group Real Estate News Roundup 9/30/09

Experian and Wyman estimate that the number of strategic defaults in 2008 were up to 600,000. Senators are supporting new legislation that would lend 200 million dollars for the prosecution of mortgage and real estate fraud cases. The MBA reports that the mortgage loan application volume decreased by 2.8 percent on a seasonally adjusted basis. The $8,000 dollar tax credit is soon to expire while approximately 1.8 million people are expected to receive the credit. Freddie Mac announced that it will work with Titanium Solutions to do door-to-door loan modifications.

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