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Email not displaying correctly? View it in your browser. Mortgage Delinquency Rate Hits New High Despite the industry's unprecedented efforts to keep people in their homes, there are more borrowers behind on their mortgage payments than there have been in 37 years. Even the end of the recession - which economists put at mid-summer - hasn't improved mortgage performance. The Mortgage Bankers Association said Thursday that the national delinquency rate for residential properties rose to 9.64 percent in Q3, setting a new record. Combine that with loans already in foreclosure, and it means a staggering 14.41 percent of all outstanding mortgages aren't current. Administration Poised to Extend TARP as Sunset Date Looms The Obama administration is leaning toward extending the $700 billion Troubled Asset Relief Program (TARP) through next October. Government officials are grappling with how best to announce a continuance of the financial bailout program, which has become increasingly unpopular with Main Street America and lawmakers alike. Sen. John Thune (R- South Dakota) introduced a bill this week that would block the Treasury secretary from extending TARP past the December 31st termination date. Counseled Homeowners Are 60% More Likely to Avoid Foreclosure: NeighborWorks NeighborWorks America has an answer to the nation's skyrocketing delinquency numbers. The nonprofit group says that borrowers who receive foreclosure counseling are 60 percent more likely to save their homes from foreclosure than those who go it alone. NeighborWorks also reported that homeowners who had the help of a counselor were able to secure loan modifications that lowered their monthly payments $454 more than those who received a modification without foreclosure counseling. New Report Shows Homeownership Has Become Increasingly Affordable With housing affordability hitting near-record highs, now is the time to buy. A combination of low interest rates and reasonable housing prices ensured that nationwide housing affordability lingered near record high levels for the third consecutive quarter, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI) released Thursday. You are receving this email because you opted in at our website dsnews.com or attended a Five Star Conference. Unsubscribe roballey.434-974-5586@blogger.com from this list. Corporate Office: DS News 1909 Woodall Rodgers Suite 300 Dallas, TX 75201 Add us to your address book Washington Bureau: 1101 Pennsylvania Avenue NW Suite 600 Washington, D.C. 20004 Copyright (C) 2009 DS News All rights reserved. Forward this email to a friend Update your profile QUICK LINKS DSNews.com DS News' Red Book DS News' Black Book 2009 Five Star Conference DARE