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Home Foreclosures Jump 23%

Posted in October 15th, 2009
by hallslug in Housing Crisis, Mortgage Meltdown

Home Foreclosures Jump 23%
Oct. 15 (Bloomberg) — U.S. foreclosure filings climbed to a record in the third quarter as lenders seized more properties from delinquent borrowers, according to RealtyTrac Inc.
A total of 937,840 homes received a default or auction notice or were repossessed by banks, a 23 percent increase from a year earlier, the [...]

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Home Prices May Fall Another 25%

Posted in September 11th, 2009
by hallslug in Economy, Housing Crisis, Middle Class, Mortgage Meltdown

Home Prices May Fall Another 25%
Home prices in the US could fall by another 25 percent because of high unemployment and another leg down will come for stocks, banking analyst Meredith Whitney told CNBC Thursday.
“No bank underwrote a loan with 10 percent unemployment on the horizon,” Whitney said. “I think there is no doubt that [...]

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Mortgage Giants Freddie Mac and Fannie Mae Are in Big Trouble

Posted in August 19th, 2008
by hallslug in Economy, Housing Crisis, Subprime Mortgage

Mortgage Giants Stocks Plunge on News of Federal Bailout
NEW YORK (CNNMoney.com) — Shares of mortgage finance giants Fannie Mae and Freddie Mac, suffering their worst day since a mid-July free fall, plunged Monday to their lowest points in nearly two decades.

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Greenspan Says Housing Prices Nowhere Near Bottom

Posted in July 31st, 2008
by hallslug in Economy, Housing Crisis, Subprime Mortgage

Greenspan Says Housing Prices Nowhere Near Bottom
July 31 (Bloomberg) — Former Federal Reserve Chairman Alan Greenspan said falling U.S. home prices are “nowhere near the bottom” and the resulting market turmoil isn’t showing signs of abating.
More Americans filed claims for unemployment insurance last week than at any time in more than five years, the Labor [...]

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Fed Plans New Rules to Protect Homebuyers

Posted in July 8th, 2008
by hallslug in Economy, Housing Crisis, Subprime Mortgage

Fed Plans New Rules to Protect New Homebuyers
WASHINGTON (AP) - In an effort to prevent a repeat of the current mortgage mess, Federal Reserve chairman Ben Bernanke says the Fed next week will issue new rules aimed at protecting future homebuyers from dubious lending practices. Bernanke also says the Fed may give squeezed Wall [...]

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