Banks Pay the Price for Investors' Mortgage Bets (NPR) Major banks are suffering enormous losses on investments tied to home mortgages. For years, Wall Street made handsome returns betting on mortgage-backed securities. But those securities are opaque and contain
New Home Sales Continue to Rise Sales of new homes in the United States increased to the highest level on record in March, the Commerce Department said yesterday. via
North Vs. South read more...
Moving the homeless out of shelters, into homes "There's a paradigm shift occurring" Two weeks ago, Moises and Jennifer Cedano expected to spend the next four to six months in a homeless shelter while they saved enough
UK's Brown says economic growth remains on target Largest Private Cos. People World's Richest People 100 Top Celebrities 400 Richest Americans Best Paid CEOs Places Best Places Personal Finance Estate Planning Funds Philanthropy Retirement Strategies Taxes ...via
New Jersey Enters Multi-State Settlement Agreement with Ameriquest Mortgage; TRENTON - New Jersey has entered into a multi-state settlement agreement with Ameriquest Mortgage Company, the nation's largest sub-prime lender, under which Ameriquest will pay $295 million in restitution to
“I just learned about this. I don’t know the details, I will find out and I will find a way to help them.”
Democratic presidential candidate John Edwards, who has called homeownership ‘the foundation of the American dream,’ said Friday he will divest his holdings in funds linked to lenders that have foreclosed on Hurricane Katrina victims.
‘I will not have my family’s money involved in these firms that are foreclosing on people in New Orleans,’ he told the Associated Press.
Edwards has reported $29.5 million in assets, millions of which are invested in the hedge fund Fortress Investment Group., a company that paid him nearly half a million dollars last year for consulting advice. Read more
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