Thanks to the several readers who sent in Saturday's article by David Streitfeld in the N.Y. Times. For more color, here's a link to CR's post, and it's ensuing 445 comments. The article can be summed up here: As the economy again sputters and potential buyers flee —...
Hat tip to SM for sending this along, from the nytimes.com: The Obama administration on Tuesday will launch its most ambitious effort at reducing mortgage balances for homeowners who owe more than their homes are worth. Officials say between 500,000 and 1.5 million...
http://www.youtube.com/watch?v=A8CLV4i5Xds
Hat tip to clearfund for sending this along:
The other cnbc.com report: For American taxpayers, now on the hook for some $145 billion in housing losses connected to Fannie Mae and Freddie Mac loans, that amount could be just the tip of the iceberg. According to the Congressional Budget Office, the losses could...
From cnbc.com The long-term mortgage, which began as a Depression-era remedy to keep Americans in their homes, may be out of step, given the current housing crisis. Could it be time to say good-bye to the popular 30-year mortgage? “The 30-year mortgage is outdated,...
Hat tip to Rick for sending this along, from the WaPo: TORONTO -- When he bought a home last week with a 40 percent down payment, lawyer Kevin Fritz didn't see the transaction as particularly relevant to the debate over global financial stability. But consider: With...
Hat tip to JimG for leaving this comment yesterday: Really can’t say if this is a one day event or will be something more but LPS, who is a outsourcer of REOs for many banks just dropped 609 REOs in California today, all from Bank of America. Guess that means BAC has...
From our friends at the W-S-J: The struggling housing market appears as if it will sustain less damage than expected this year from a spike in the monthly payments on hundreds of thousands of exotic adjustable-rate mortgages. The number of such loans scheduled to...
Seen on CR, this summary on Bloomberg discusses the recent developments with short sales, DILs, and loan modifications. The article's ending: Short sales benefit a neighborhood because they clear out stagnant properties that may have an adverse effect on values, said...
