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Homes lost to foreclosure on track for 1M

LOS ANGELES — More than 1 million American households are likely to lose their homes to foreclosure this year, as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans. Nearly 528,000 homes were taken over by lenders in the first six months of the year, a rate that is on track to eclipse the more than 900,000 homes repossessed in 2009, according to data released Thursday by RealtyTrac Inc., a foreclosure listing service.

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Senate seeks to rein in deceptive lenders

WASHINGTON, D.C. — Taking aim at deceptive lending, the U.S. Senate on Wednesday voted to ban mortgage brokers and loan officers from getting greater pay for offering higher interest rates on loans, and to require proof ...

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Mortgage fraud incidents rose over last year

MIAMI — Incidents of residential mortgage fraud increased last year, a sign that scammers are still targeting the industry despite more diligent efforts to find and report such activity.

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Foreclosure program changed

ST. PETERSBURG, Fla. — The federal government announced Friday that it is relaxing some rules to make it easier for communities to spend funds on redeveloping abandoned and foreclosed properties.

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