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News about Mortgages:
FHA Program Will Rework Loans - Washington PostThe Bush administration rolled out a program yesterday that aims to help thousands of struggling borrowers refinance into more affordable, government-backed mortgages and thus provide some relief for the foreclosure crisis that's contributed to ...
BofA OKs foreclosure relief for Californians - San Francisco GateTuesday, October 7, 2008 The pact stems from cases filed earlier this year by California and other states, alleging Countrywide, based in Calabasas (Los Angeles County), used misleading advertising and unfair business practices to dupe customers into ...
FHA launches mortgage help program - Medford Mail TribuneWASHINGTON — The Bush administration on Wednesday rolled out a program that aims to help thousands of struggling borrowers refinance into more affordable government-backed mortgages and thus provide some relief for the foreclosure crisis that has ...
More states likely to help at-risk homeowners - Columbus DispatchOhio and eight other states have established programs to help homeowners refinance loans they couldn't afford or take out emergency loans to get them through a difficult financial time. More states might soon offer home loan refinancing programs ...
ROBERT SHILLER ON THE US BAILOUT - Der SpiegelA real estate firesale in southern California: "Right now, there are foreclosures on 10,000 homes a day in the United States. The people are being thrown out of their houses." SPIEGEL: You predicted the end of the New Economy and that the real estate ...
Worthy foreclosure rescue? - Philadelphia InquirerThe federal government's latest efforts to prevent foreclosures are getting a lukewarm response from economists, officials and advocacy groups. Many doubt that lenders, already facing huge losses, will agree to take on more red ink to refinance ...
Washington: Area lawmakers split on bailout - Chattanooga Times Free PressWASHINGTON — In the end, after a week of talking to pension managers, bankers and anxious constituents, Rep. Zach Wamp, R-Tenn., concluded that he had to reluctantly vote in favor of the $700 billion Wall Street bailout that passed Friday afternoon ...
Bailout offers Main St. little help - Seattle Post IntelligencerWASHINGTON -- The harsh reality for Murielle Montes and hundreds of thousands of homeowners who are behind on their mortgages is this: A $700 billion bailout of the financial industry will probably do little to help them avoid foreclosure. On Friday ...
U.S. Stocks Drop, Led by Banks, Real-Estate Investment Trusts - BloombergOct. 7 (Bloomberg) -- U.S. stocks fell for a fifth day, the longest losing streak since January, as investors shrugged off signs the Federal Reserve will cut interest rates and focused on concern financial companies will need to raise more cash. Bank ...
Applications to refinance mortgages surge - CNN MoneyWASHINGTON (AP) -- Homeowners rushed to take advantage of the drop in interest rates following the government's takeover of Fannie Mae and Freddie Mac, data released Wednesday showed. Applications by homeowners looking to refinance their mortgages ...