December 18, 2007

Fed endorses home mortgage protections (AP)

A foreclosure notice is posted alongside a for sale sign in front of a townhouse in Herndon, Virginia. Sales of existing homes in the United States fell for the eighth consecutive month in October and prices posted a record plunge amid stubborn housing woes, industry figures showed Wednesday.(AFP/File/Paul J. Richards)AP – The Federal Reserve moved Tuesday to protect home buyers from dubious lending practices, its most sweeping response to a mortgage meltdown that has forced record numbers of people from their homes.

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