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Inthe fourth quarter of 2009, 33 percent of borrowers who refinancedtheir loan lowered their principal balance, resulting in the highest“cash-in” share since Freddie Mac began tracking the characteristics ofrefinance transactions in 1985, according to the company’s refinancereport.

Consistent with the cash-in share, the report showedthat the share of borrowers who increased their loan balance by 5percent or more during the fourth quarter was at a record low of 27percent. 

Thousandsof potential home buyers are expected to converge the weekend of March13 and March 14 at the Los Angeles Convention Center for the FREE thirdannual Southern California Home Buyer’s Fair.  The event is sponsoredby the C.A.R. and the Los Angeles Times.

The Southern CaliforniaHome Buyer’s Fair, open 10 a.m. to 5 p.m., Saturday, March 13, and 11a.m. to 4 p.m., Sunday, March 14, features more than 50 educational“how-to” seminars designed to help home buyers navigate today’s realestate market with confidence and peace of mind.  Seminar topics rangefrom understanding home prices and monitoring and fixing credit toapplying for a mortgage and the importance of the home inspection.Several of the sessions also will be offered in Spanish.

Theevent is free to the public. In addition, the first 200 attendees eachday will receive a free movie ticket (one ticket per person).   Pleasehelp us make this event a success with consumers by promoting theSouthern California Home Buyer’s Fair.  C.A.R. has prepared a flyermembers can share with clients at http://www.homebuyersfair.com/system/images/Consumer_Flyer.pdf. We also have created online advertisements (Web banners) for members’use.  Simply copy and paste the HTML code and place it on your Website. Visit www.homebuyersfair.com/banner for more information.

FreddieMac and 13 national and local non-profit organizations recentlyannounced the launch of Freddie Mac Borrower Help Centers, includingone in San Bernardino.  The centers are designed to encouragedelinquent borrowers to pursue mortgage workouts.  At the centers,Freddie Mac borrowers will receive free, confidential one-on-onemortgage counseling.  The company also is launching a separate BorrowerHelp Network which will offer similar counseling services over thephone to targeted Freddie Mac borrowers.

Delinquent borrowerswith a mortgage owned by Freddie Mac can schedule free appointments bycontacting the Borrower Help Center in their area.

To reachdistressed borrowers located outside of the initial target areas,Freddie Mac also is launching a separate Borrower Help Networkconsisting of eight national and local non-profit organizations. Together they are launching a national phone campaign to make contactwith delinquent Freddie Mac borrowers who have stopped responding totheir lenders. Counselors will provide free counseling, and helpborrowers explore and understand their mortgage modification options.