WASHINGTON - The number of homeowners stung by the rout in the U.S. housing market jumped last month as foreclosure filings grew by more than 50 percent compared with June a year ago, according to data released Thursday.
Nationwide, 252,363 homes received at least one foreclosure-related notice in June, up 53 percent from the same […]
US foreclosure filings surge 53 percent in June
July 10th, 2008 · Permalink
Fed to hold public hearings on BofA-Countrywide deal
April 27th, 2008 · Permalink
AP - Consumer advocates nervous about Bank of America Corp.’s proposed takeover of troubled mortgage lender Countrywide Financial Corp. are pressuring the bank to provide assurances that Countrywide borrowers facing foreclosure won’t lose their homes.
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Bush plan helps few troubled borrowers
April 10th, 2008 · Permalink
WASHINGTON - A program President Bush is expanding to help struggling homeowners head off foreclosure has helped only 1 percent of the borrowers it originally set out to assist and is expected to reach just 100,000 more by the end of the year.
The administration claims the initiative has reached 60 times more homeowners and will […]
Mortgage assistance plan impact doubted
April 9th, 2008 · Permalink
AP - Americans with mortgages exceeding the value of their homes face long odds of getting help under an expanded Bush administration program aimed at helping distressed borrowers.
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Late loan payments highest since 1992
April 3rd, 2008 · Permalink
AP - Borrowers fell behind on their car, home equity and home improvement loans in last three months of 2007 at a delinquency rate not hit since the early 1990s.
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Bernanke outlines mortgage help plan
March 15th, 2008 · Permalink
NEW YORK (CNNMoney.com) — Federal Reserve chairman Ben Bernanke outlined the central bank’s proposal Friday to stem the subprime meltdown.
In a speech at the National Community Reinvestment Coalition’s annual meeting, Bernanke said that the Fed is working to curb unfair lending practices to protect borrowers of adjustable rate mortgages.
“The Federal Reserve is strongly committed to […]
The next shoe to drop in housing
March 13th, 2008 · Permalink
NEW YORK (CNNMoney.com) — The credit crunch has finally hit the traditional mortgage market.
Investors are now shunning mortgage-backed securities issued by government sponsored enterprises Fannie Mae and Freddie Mac, which have been critical in keeping the real estate market from completely falling apart.
Some fear this development will make it harder for people, even those with […]
Housing market is on the brink of a slump as prices drop again (Times Online)
March 1st, 2008 · Permalink
The average home has lost £6,000 in value over the past six months in the latest sign that the housing market is on the brink of a major decline.
The number of new buyers being approved for a mortgage has fallen by nearly a half since this time last year amid fears that curbs on new […]
