Foreclosure Prevention Efforts Worsen
Efforts to keep at-risk borrowers in their homes have actually worsened over the past year, according to a report released by the State Foreclosure Prevention… Read More »Foreclosure Prevention Efforts Worsen
September 2008
Bailout Plan Fails to Get House Vote
It’s back to the drawing board, barring any dramatic reversal. The so-called “Emergency Economic Stabilization Act of 2008” (EESA) failed to pass in the House,… Read More »Bailout Plan Fails to Get House Vote
WaMu Failure Puts Renewed Pressure on Nat City, Wachovia
The government better get moving on that bailout, with the recent WaMu failure putting serious pressure on some of the nation’s largest banks. National City… Read More »WaMu Failure Puts Renewed Pressure on Nat City, Wachovia
Washington Mutual Shut Down by OTS
So much for the merger with Chase; instead the largest bank failure in U.S. history. Late Thursday evening, Washington Mutual was shut down by the… Read More »Washington Mutual Shut Down by OTS
Mortgage Bailout Could be Finalized Within Days
The monumental $700 billion mortgage bailout is said to be making headway, the AP reported this morning. President Bush has invited presidential candidates Barack Obama… Read More »Mortgage Bailout Could be Finalized Within Days
Buy and Bail Borrowers Targeted by FHA
It took three months, but the FHA is finally, formally addressing the issue of “buy and bail borrowers,” according to a recent mortgagee letter. “Recently,… Read More »Buy and Bail Borrowers Targeted by FHA
Ultimate Bailout: Remove Toxic Mortgage Debt from Financial System
Financial markets rallied worldwide today as a massive plan to remove bad mortgage debt from the balance sheets of troubled institutions was introduced by Treasury… Read More »Ultimate Bailout: Remove Toxic Mortgage Debt from Financial System
Lehman Files for Bankruptcy, BofA Snaps Up Merrill Lynch
It was a busy Sunday on Wall Street as the mortgage crisis forced Lehman Brothers and Merrill Lynch down very different paths. After talks to… Read More »Lehman Files for Bankruptcy, BofA Snaps Up Merrill Lynch
Foreclosure Filings Up in August, But Pace Slowing
Foreclosure activity increased 12 percent last month from July and 27 percent from the same period a year ago, but the annual rate of increase… Read More »Foreclosure Filings Up in August, But Pace Slowing
Eight of 10 Most Expensive Housing Markets in California
Perhaps not surprisingly, eight of the 10 most expensive housing markets in the nation can be found in California, at least according to the latest… Read More »Eight of 10 Most Expensive Housing Markets in California