Bank Settles Countrywide Mortgage Lawsuit (CBS News) Facing a lawsuit over deceptive mortgage practices, a Bank of America Corp. subsidiary has agreed to modify tens of thousands of loans to keep people in 11 states from losing
Thornburg Mortgage unit defaults on notes payment Mortgage lender and real estate investment trust Thornburg Mortgage Inc. said Friday that a unit has defaulted on $300 million of short-term notes due under a commercial paper program.
Australia lifts key rate to 5.75 percent Australia's central bank said Wednesday it lifted a key interest rate by a quarter point to 5.75 percent, the first increase in 14 months, to head off inflation.read more...
Market Action Slips Away From Coasts Could the real estate action be shifting to the heartland, the vast swath of middle America that wasn't really touched by the hyperinflationary housing boom? read more...
Construction of new homes picks up pace While new-home construction has dipped in what had been roaring housing markets across the country, Hampton Roads has seen new home sales and starts in 2006 that match - and
No let-up yet in mortgage squeeze (BBC News) Gross mortgage lending fell by another 2% in May, to push it 19% lower than a year ago, say mortgage lenders.read more...
Appeal is strong because people want to build equity in their homes By TATIANA PROPHET Staff Writer RANCHO CUCAMONGA —In an effort to help buyers qualify for ever-spiraling home prices, some mortgage lenders …
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