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Rescue legislation sailed through the House aimed at helping 400,000 strapped homeowners avoid foreclosure and to prevent troubled mortgage giants Fannie Mae and Freddie Mac from collapsing.
Mr. Bush had voiced objections to a $3.9 billion provision that would give grants for local governments to purchase and refurbish foreclosed properties — a provision that the White House regards as a bailout.
They owe $1.5 trillion; they "own or guarantee more than $5 trillion in mortgages"; and they have derivative contracts to hedge $2 trillion worth of mortgage risks. I am curious what else the Fed and the OCC will be looking for as they insp
Congressional budget analysts on Tuesday put a $25 billion cost estimate on a Bush administration plan to bolster mortgage finance giants Fannie Mae and Freddie Mac, but raised questions about a key assumption underlying the plan.
Citigroup chairman Win Bischoff has warned that house prices in Britain and the United States are likely to keep falling for another two years.
July 17 (Bloomberg) -- Builders started work in June on the fewest single-family U.S. homes since 1991 and manufacturing in the Philadelphia region contracted for an eighth straight month, signaling the economic slowdown is worsening.
An outside-the-box idea has some architects and home-buyers turning to inside-the-box eco-friendly, affordable housing that uses as building blocks the 8-by-40-foot steel containers often left vacant at seaports.
The latest action came amid a new report saying the government could put the finance giants in receivership, which would make their shares worthless.
Rather than the accounting rules, what's really got investors spooked is a growing realization the government will have to nationalize Fannie and Freddie, says Kevin Depew, executive editor of Minyanville.com.
The housing crisis is entering a new and frightening stage. On June 24, Standard & Poor's announced that the S&P/Case-Shiller 20-City Home Price Index had fallen more than 15% in April from a year earlier, the biggest since 1940-42,
... Tulips Pale in Comparison If you are one of the hundreds of thousands of Europeans who own speculative real estate, you tread the crumbling edge of a huge cliff."
“It has been horrible,” said Earlinda, a Realtor in Reno, Nev. “We now have a ‘tent city’ because the homeless shelters are overloaded."
Boyle and his wife must drive nearly an hour to their jobs in the high-tech corridor of southern Denver. Boyle recently paid $121 to fill his pickup truck with diesel. The price of propane to heat their spacious house has more than doubled in recent
Conservative "Blue Dog" Democrats are concerned about how to pay for the measure, while members of the Congressional Black Caucus _ most of them liberal _ call it "unacceptable," arguing it doesn't do enough to address the nee
According to a study released by Harvard University, record foreclosures and limited access to credit will make it harder than usual for the U.S. housing market to rebound from this slump, the worst at least since World War Two.
(This site cuts through the MSM BULLSHIT that they are soooo infamous for)
If you read this and don’t agree that the proposed arrests for fraud should be made, then the likely explanation is that you are either brainwashed, ignorant of the facts, a patsy, or in cahoots with the crooks. Or maybe you have the brain of a head
NEW YORK -- Two former Bear Stearns portfolio managers were charged Thursday with misleading investors about the perilous state of hedge funds that later tanked, losing more than $1 billion and fueling the subprime mortgage collapse that contributed
Rising mortgage rates, reflecting higher inflation, are starting to compound the US housing market's woes. Since March, mortgage rates have climbed as much as a full percentage point. For someone borrowing, say, $400,000, that could tack an extra
A broad bipartisan coalition supporting a massive foreclosure rescue beat back GOP efforts to gut it Thursday, defying a White House veto threat and a bid to make it victim to revelations about two senators' VIP mortgages.
Revelations that Dodd and Sen. Kent Conrad, D-N.D., the Budget Committee chairman, got cut-rate mortgages through a VIP program for friends of Countrywide CEO Angelo Mozilo - Democrats' message... massive foreclosure rescue package
McMahon is nearly $644,000 behind in payments on a $4.8 million mortgage loan he got in 2005.
More: "Michael Crews Development is offering new, 2000-square foot cityscape row-homes worth $400,000 in Escondido for free -- if you buy one Royal View Estate home in San Pasqual Valley starting at $1.6 million.
The US housing market is wildly out of whack, with a huge overhang of 4.55m unsold houses. Data on Friday showed this backlog at a record level, which would take more than 11 months to clear if sold at a normal pace.
Lenders who agree to erase a large share of the original loan amount could win a government guarantee on future mortgage payments. The bill would create a stronger regulator for mortgage-finance companies Fannie Mae and Freddie Mac
You read that right. You can buy a house in Atlanta for $10,000.
That's if you're a high roller. How about one for $5,900?
Home builder Beazer Homes USA said on Monday that it lost $10.70 per share in fiscal 2007, it released restated results for several years, and said it remains the target of several state and federal investigations.
Many in Washington fail to realize it was government intervention that brought on the current economic malaise in the first place. People made these lending and buying decisions based on market conditions that were wildly manipulated by government.
The U.S. House of Representatives passed legislation to let a federal agency insure up to $300 billion in mortgages to help homeowners avert foreclosure, a day after the White House threatened to veto the measure.
Sales of new homes plunged in March to the lowest level in 16 1/2 years as housing slumped further at the start of the spring sales season. The median price of a new home in March compared to a year ago fell by the largest amount in nearly four decad
