BusinessWeek Online - Treasury Secretary Henry Paulson announced a plan on Monday to encourage banks to issue a new form of debt known as a covered bond. Paulson said that if investors buy enough of these bonds, which are generally considered safer than many of the risky mortgage-backed securities that proliferated during the housing boom, […]
Entries from July 2008
Covered Bonds: What the Paulson Plan Means for You
July 30th, 2008 · Permalink
Demand Surges on Foreclosure Sites
July 30th, 2008 · Permalink
BusinessWeek Online - Even some of Wall Street’s biggest bears were taken aback by a recent report showing a surge in second-quarter home foreclosures. But the dour news was no surprise to Mark Britton, who runs Avvo.com, a Web site that lets users rate attorneys. Searches for foreclosure lawyers on Avvo had skyrocketed eightfold in […]
Bush signs housing rescue plan into law (Reuters)
July 30th, 2008 · Permalink
Reuters - As home foreclosures rise and
property values slump, U.S. President George W. Bush on
Wednesday signed into law a rescue package that includes
emergency backstops for mortgage financing companies Fannie Mae
and Freddie Mac.
Article Source
Who qualifies for mortgage help and how to get it
July 29th, 2008 · Permalink
AP - Questions and answers about the Hope for Homeowners Act of 2008, passed by Congress last weekend to try to steer as many as 400,000 struggling homeowners away from foreclosure:
Article Source
Homeowner aid act raises worries on scope, delays
July 29th, 2008 · Permalink
AP - Help is on the way for some debt-plagued homeowners. It just may not be fast enough or broad enough to keep many from losing their residences.
Article Source
June housing market worst in 17 years (Boston Herald)
July 29th, 2008 · Permalink
The Bay State housing market suffered through its worst June in 17 years last month, with sales volume down 14.9 percent and median prices tumbling 8.6 percent to $329,000,…
Article Source
US Senate approves sweeping housing bill
July 29th, 2008 · Permalink
AFP - The US Senate on Saturday approved an elaborate housing rescue plan designed to help thousands of homeowners avert foreclosure and bolster mortgage finance giants that have struggled amid a volatile housing market.
Article Source
How they voted: Senate roll call on housing bill (AP)
July 29th, 2008 · Permalink
AP - The 72-13 roll call Saturday by which the Senate passed a bill that aims to help homeowners facing foreclosure and to prevent mortgage companies Fannie Mae and Freddie Mac from failing.
Article Source
