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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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In The Last 6 Years Home Prices have Dropped 33 Percent Nationwide


It is being reported that since 2006 there was a 33% drop in home prices nationwide.  Due to the housing crisis the rental market has increased significantly. The average monthly mortgage payment was $698.00 compared to the average monthly rent payment which is $700.00. This information was reported by the National Association of Realtors and the Census Bureau.
   
There are a few signs that indicated that we are slowly moving past the housing crisis. Interest rates have hit an all time low, the average 30 year fixed mortgage is being reported at 4%. Home building has improved over the last 6 months. Home sales have increased by 12%  from November 2011 compared to January 2011.  This information was provided by CoreLogic.