Sign of the times: For Sale
Rubble piles bear “For Sale” signs. Homes without roofs are being sold as-is. Placards announcing “We Buy Houses, Cash!,” are posted on corners throughout middle-class neighborhoods.
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Bush administration working to combat mortgage crisis, Paulson says (International Herald Tribune) The U.S. Treasury secretary said that the wave of subprime mortgages that are scheduled to reset to sharply higher rates over the next two years raised the possibility of a
Hurricane victims can get low-interest loans Mortgage investor Freddie Mac is offering a $1 billion program for low-interest loans to help up to 10,000 low-income Louisiana and Gulf Coast homeowners recover from Hurricane Katrina.read more...
US existing home sales edge up from record low "This could get even worse before it gets better." WASHINGTON: The pace of existing U.S. home sales edged up in November from a record low, according to a report
Let's find out readers' banking pet peeves What's your financial pet peeve? What drives you crazy when it comes to dealing with money, banks, brokers, credit-card companies? In such a sophisticated world of personal finance, it certainly
$60 Billion Refinance Package for GMAC?s Mortgage Lender (NYTimes.com via Yahoo! Finance) The financing package aimed to improve the liquidity of its struggling subsidiary, mortgage lender Residential Capital.read more...
Mortgage Company Suddenly Closes Offices (NBC 10 Providence) A mortgage company lays off 3,800 workers and closes 229 branches nationwide as part of a restructuring.read more...