The Federal Reserve is likely to keep interest rates low to help consumers and companies eliminate debt, Goldman Sachs economists wrote in a report released Wednesday.
Some forecasters have said they expect the Fed to raise rates next year, but Goldman economists say they believe the Fed will keep its key rate near zero at least through 2010 and probably longer.
Source: Bloomberg, Simon Kennedy (09/10/2009)
Copyright National Association of REALTORS®, Reprinted from REALTOR.org with permission.”
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If you’re thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won’t cover your total mortgage obligation and closing costs, and you don’t have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it.
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