Mortgages and Loans help
The collapse of the subprime mortgage market last year led to plummeting home prices in many cities and a tight squeeze on the amount of credit available to homebuyers.
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Many Americans are losing their homes due to the subprime mortgage crisis, but others are hoping for a rare opportunity to jump into the housing market.
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State financial regulators have shut down a large Twin Cities mortgage lender, accusing it broadly of “financial irresponsibility or incompetence.”
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The mortgage market meltdown has dealt Jim Halbert a double whammy. First he lost his job because of it, and now the former mortgage underwriter for defunct Houston-based Aegis is worried he’s about to lose his home.
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“The federal government has provided assistance to Wall Street, now Congress must turn its attention to Main Street”
While senators realize they need to address the nation’s housing-related economic crisis, Democrats and Republicans are divided over how to tackle the issue.
The Democratic bill being voted on Tuesday blends several provisions aimed at easing the foreclosure crisis, such as providing $4 billion to communities to purchase and rehabilitate foreclosed homes and improving disclosure of subprime mortgage loans so borrowers won’t be surprised by big payment increases.
The underlying measure faces uncertain prospects as rival Democrats and Republicans spar over how freewheeling a debate to have on it. It seemed likely that Republicans would again block the bill, as they did Feb. 28. Read more
Luminent Mortgage Capital Inc., a Philadelphia company that got squeezed by last summer’s credit crunch, said it plans to convert from its status as a real estate investment trust because it was unable to meet its distribution requirements last year.
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A former state lawmaker who pleaded guilty to federal money laundering charges has been fired by the Atlanta church he led for secretly taking out a $250,000 mortgage on the church’s property.
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Many Americans are losing their homes due to the subprime mortgage crisis, but others are hoping for a rare opportunity to jump into the housing market.
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BOSTON (Thomson Financial) – MFA Mortgage Investments Inc. Tuesday said its board declared a first-quarter dividend of 18 cents a share.
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PHILADELPHIA ? Democrat Hillary Rodham Clinton proposed several remedies to the nation?s home mortgage problems Monday, including one tool more often associated with Republicans than Democrats.
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