According to the definitive barometer for real estate prices, the three year drop in housing prices slowed dramatically in the first two months of the second quarter. The evidence came in the form of The Case-Shiller Home Price Index, which tracks home prices across 20 major cities nationwide, when it reported that the decline in May, at 0.2%, was the lowest number in twenty four months with a handful of cities, including Denver, Washington, D.C., Chicago, Boston, Cleveland and Dallas, actually recording small gains.
The Federal Trade Commission (FTC) is making sure that the financially stressed debtors in America are not subject to any kind of debt settlement scams. The FTC has passed a new set of rules that will come into effect from October 27 to protect the consumers from being a victim of huge upfront fees charged by debt settlement companies. This step has been taken by the FTC to ensure that most middle-class Americans are not taken undue advantage by the debt settlement companies.
The governments Making Home Affordable Program (HAMP) released in March last year was designed to help homeowners modify mortgages and stay in their homes. While qualifications for HAMP seem pretty straight forward, the governments program appears to be failing.
Bank of America is the third major lender over the past two weeks to freeze foreclosures in the 23 states where the foreclosure process is controlled by the courts. Bank of America went further than GMAC and J.P. Morgan Chase who have said they will amend paperwork only in cases they think were improperly done. So far, that's been a small handful of cases. 
Homeowner Warning: “Typically, the scam started with a flyer sent to the homeowner and many of these mailers look as if they may come from their lender or even the government. But, they are coming from scammers.” Or you get a phone call from a telemarketer offering a Government Program that will lower your mortgage amount, interest rate or both.
