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Loan Modification

: Mortgage Lender Implode-o-Meter

New Home Sales Unexpectedly Plunge to Record Low; Fannie Mae, Freddie Mac Post Losses

By Implode-Explode Heavy Industries

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`` Purchases declined 11 percent to an annual pace of 309,000, below the lowest forecast in a Bloomberg News survey of economists, from a 348,000 pace, figures from the Commerce Department showed today in Washington. The median sales price dropped 2.4 percent from January 2009 and the supply of unsold homes increased.''

Full post as published by Mortgage Lender Implode-o-Meter on February 24, 2010 (boomark / email).

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