High-flying financiers are sweating a coming wave of mortgage defaults tied to office and apartments buildings. Unfortunately for them, too big to fail doesn’t apply to the $6.5 trillion U.S. commercial real estate market.
Unlike the multitrillion-dollar government intervention launched to keep the American housing market from cratering, Washington has done little to ease a [...]
China’s $300 billion sovereign-wealth fund is eyeing big investments in distressed U.S. real estate, according to people familiar with the matter. To finance some of the deals, China may rely on an old trading partner: the U.S. government.
In recent weeks, officials from China Investment Corp. have held talks with U.S. private-equity fund managers, including BlackRock [...]
Mortgage lenders have helped nearly 2.5 million troubled homeowners avoid foreclosure since the mortgage meltdown began in the summer of 2007.
That’s according to the latest report from Hope Now, the coalition of banks, mortgage-securities investors and housing counselors formed by the Bush administration to stem the foreclosure crisis.
Hope Now members helped 212,000 borrowers stay in [...]
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 [...]
The Federal Government is collaborating with State and local partners to use the best tools available to keep homeowners in their homes. Americans need to know that help is available. The actions of the Federal Government are helping to address a key problem in the housing market: the excess supply of homes on the market. [...]
During October, amid the hubbub surrounding the U.S. government’s financial rescue plan, the government put into effect an element of economic rescue designed to help homeowners struggling with their mortgages. The intent of the “Hope for Homeowners” plan is to help homeowners who are at risk of losing their homes, while also working to stabilize [...]
San Francisco may be 3,000 miles from Wall Street, but the crisis that has engulfed the country’s biggest financial institutions is putting even more pressure on the Bay Area’s real estate market, making it increasingly difficult for home buyers to get credit.
Cheap credit played a dramatic role in fueling the housing boom of the late [...]
Democrat Barack Obama told a campaign audience Thursday that Republican John McCain’s mortgage buyout plan would cost taxpayers billions of dollars and reward bad behavior by lenders.
Speaking in Dayton as he started a two-day bus tour of hotly contested Ohio, Obama said McCain’s plan would force the government to absorb the full cost of renegotiating [...]
The US government would snap up 300 billion dollars of bad home loans, Republican John McCain vowed Tuesday unveiling a new plan to help struggling homeowners if he is elected president.
“People are no longer able to afford their mortgage payments,” said McCain as he laid out what he billed as an original proposal for addressing [...]
Republican presidential candidate John McCain is proposing a $300 billion program for the federal government to buy up bad home mortgages and allow homeowners to keep their houses.
McCain said: “Until we stabilize home values in America, we’re never going to start turning around and creating jobs and fixing our economy and we’ve got to get [...]