Based non ABC News, Senate leaders announced an agreement Wednesday on legislation to ease the slumping housing market and help millions of families threatened by foreclosure.

Here is the highlight of the proposed legislation plan by congress to help housing market:
1. $4 billion in grants to local governments to buy and refurbish foreclosed homes;
2. New authority for states to issue bonds to be used to refinance subprime mortgages;
3. A $7,000 tax credit for people buying new homes or properties in foreclosure.
4. A broader rewrite of the FHA that reduces down payments on FHA-insured loans and raises the dollar limit on mortgages that FHA can insure. Read more

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The Bush administration Tuesday announced an expanded plan for lenders to help homeowners by temporarily suspending foreclosures for people facing the imminent loss of a home.The plan, called Project Lifeline, will allow overdue homeowners to suspend foreclosures for 30 days while they try to work out more affordable terms with lenders. Read more

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Chicago Congressman Davis Calls for 90-Day Home Foreclosure Halt

Executive Intelligence Review (EIR) - Leesburg,VA,USA
U.S. Rep. Danny K. Davis (D-7th C.D. Illinois) held a press conference Dec. 31 in his West Chicago office, to call for a 90-day moratorium on home foreclosures, to stay the destruction now sweeping over his area and the nation.
Bay State foreclosures continue to rise

Boston Herald - United States
By AP The Warren Group, a Boston-based publisher of real estate data, says foreclosure petitions statewide rose 44 percent in October compared with the same …
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Foreclosure fever: Area sees major uptick in filings

Janesville Gazette - Janesville,WI,USA
7, 2008 JANESVILLE — The number of foreclosures in Rock and Walworth counties has risen steeply over the last two years, indicating that the subprime …
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Hartslief receives third foreclosure notice

Mountain Mail Newspaper - Salida,CO,USA
A third foreclosure notice on the Sherman Hotel at 149 W. First St. was placed in The Mountain Mail Dec. 27, continuing a dispute between Bobby Hartslief …
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Bank donation will help Vallejo residents avoid foreclosure

Vallejo Times-Herald - Vallejo,CA,USA
The money will go toward the agency's Home Buyers Education program and foreclosure prevention counseling, making it especially timely, she said. …
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Area home sales stuck at two-decade low - Bizjournals.com

20 Dec 2007 at 5:36pm

San Diego Union Tribune
Area home sales stuck at two-decade low
Bizjournals.com, NC - 3 hours ago
"This fall's sharp decline in jumbo-loan financing continued to weigh heavily on Bay Area home sales , though we do see evidence the problem has stabilized.. Read more