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By ALAN ZIBEL,Associated Press WASHINGTON, D.C. — Home prices sank by the sharpest annual rate on record in January, and the pace continues to accelerate, but there were a handful battered metro areas where price declines slowed, according to data released Tuesday. The Standard & Poor’s/Case-Shiller index of home prices in 20 major cities tumbled by a record 19 percent from January 2008. It was the largest decline since the index started in 2000. The 10-city index dropped 19.4 percent, also a new record.

Tips on how to make process go smoother Lately, homebuyers are seeing more and more short-sale opportunities, but it seems as if fewer purchases are actually being completed. The perception in this case is correct. The short-sale process has become a nightmare: it goes on forever, sometimes never coming to a satisfactory conclusion even after months of effort.

The Mortgage Bankers Association outlined a plan Wednesday that would help the unemployed pay their mortgages for up to nine months. The MBA proposed that loan servicers reduce borrowers’ monthly payments to no more than 31 percent of their household income with the arrears added to the back-end of the mortgage.

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