Relief is on the way for some Floridians in foreclosure or at risk for it.
Bank of America is to provide $1 billion for Floridians who are recipients of Countrywide home loans considered troubled or risky.
Bank of America, which acquired Countrywide last year, is expecting about 58,000 Floridians to be eligible for its home retention program [...]
WASHINGTON – Oct. 17, 2008 – Rates on 30-year mortgages jumped to the highest level in eight weeks, squeezing some potential homebuyers out of the market, and reflecting how nervous lenders remain despite the massive global intervention in the credit markets.
Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.46 percent this week, [...]
Hulton Archive/Getty Images
New York’s Sub-Treasury Building (now Federal Hall
National Memorial), in the early 1930s.
July 9, 1932 was a day Wall Street would never wish to relive. The Dow Jones
Industrial Average closed at 41.63, down 91% from its level exactly three years
earlier. Total trading volume that day was a meager 235,000 shares. “Brother,
Can You Spare a [...]
MIAMI – Oct. 16, 2008 – More than four in 10 South Florida homeowners who bought in the last five years owe more on their mortgages than their homes are worth.
For those who bought in 2006 – the year prices peaked – the situation is even worse. A startling 76 percent of those homeowners are [...]
Federal Reserve Chairman Ben Bernanke on Wednesday kept the door open to further interest rate cuts, saying policymakers will keeping using “all the tools at our disposal” to restore stability in financial markets.
Bernanke: Quick Rebound Not in the Cards
3:39
Chairman Ben Bernanke talks about the credit markets and how it will take quite some time [...]
WASHINGTON – Oct. 15, 2008 – Can filing for bankruptcy help homeowners facing foreclosure?
For most people, trying to negotiate changes in their loan with help from a housing counselor or lawyer is a far better option. While bankruptcy judges can reduce or eliminate certain kinds of debt, they aren’t allowed to alter the total amount [...]
TORONTO, Canada – Oct. 13, 2008 – For the first time in more than a decade, Canadian Realtor Graham Reid is telling his clients the house they are about to put on the market may not sell.
It’s a tough piece of advice for sellers to hear considering that a few months ago home sales and [...]
Improving conditions in the mortgage market bode well for the housing sector in 2008, according to NAR’s latest outlook, including a widening availability of credit at historically favorable mortgage rates and jumbo mortgage rates that have improved since August. NAR’s latest predictions include:
Existing-home sales: 5.78 million in 2007, rising to 6.12 million next year, in [...]
Again this year EXPO REAL has recorded strong growth. The 11th International Commercial Property Exposition, which took place in Munich from 6 to 8 October 2008, attracted 24,500 trade visitors from 77 countries (2007: 23,800 from 77 countries). In addition, at the exhibition stands, there were over 17,500 company representatives. The figure for participation in [...]
TALLAHASSEE, Fla. (AP) – Oct. 12, 2008 – Floridians can still get home loans despite the national credit crunch, banking officials assured Gov. Charlie Crist on Thursday.
After a meeting at the Governor’s Mansion, Crist encouraged people to see their banker whether they’re interested in buying a new home or having problems paying their mortgages.
“Go talk [...]