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The Associated Press
After crash, has twilight come to the Sun Belt?The Associated Press___ Some cities — Las Vegas, Phoenix, Fort Myers are good examples — hitched their floats to housing bubbles and got caught up in development that depended largely on, well, development itself, rather than sustainable, scalable, productive industry, …Has twilight come to the [...]
Written on May 31, 2009 | Posted in
Housing |
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Brandon News and Tribune
Hedge funds take aim at Florida real estateBrandon News and Tribune, FLLocal bankers and commercial real estate brokers report getting cold calls from hedge funds inquiring about distressed mortgages for sale. At the moment, funds holding as much as $300 billion are looking to buy distressed real estate debt, …
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Written on May 31, 2009 | Posted in
Foreclosures,
Housing,
Lending |
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Examiner.com
Riding out the third wave of foreclosures – and other tales from …
Examiner.com
The Times also reported that the “third wave” of foreclosures is beginning as job losses increase. That article, Job Losses Push Safer Mortgages to Foreclosure, chronicles the increasing pressure on owners with “safe” mortgages, so-called because they …
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Written on May 26, 2009 | Posted in
Foreclosures,
Housing,
Lending |
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JPMorgan Chase stands to reap a $29 billion windfall, thanks to an accounting rule that lets the second-biggest U.S. bank transform bad loans it purchased from Washington Mutual into income. Wells Fargo, Bank of America and PNC Financial Services Read Full Article
What goes up must come down. But the opposite is also true, at least in finance and economics. While individual companies, share prices and investment portfolios can collapse and disappear without trace – as is all too obvious to former shareholders Continue
Written on May 25, 2009 | Posted in
Foreclosures,
Housing,
Lending |
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Bay Area home sales delivered a smidgen of good news in April – but it came laden with the caveat that it’s too soon to declare a turn-around in the beleaguered real estate market.
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While home prices plunged compared with the same time last year, the median sales price for existing homes in the nine-county region [...]
High-end properties are increasingly coming under the sort of pressure once reserved for moderate homes. In fact, as slowing price declines fuel hope that the real estate bottom is near, other signs suggest the worst is on its way for the region’s upscale market. Read More
Tags: luxury+homes, high+end+properties, short+sale, foreclosure
Written on May 24, 2009 | Posted in
Foreclosures,
Housing,
Short Sales |
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At Bank of America, the nation’s largest mortgage servicer, more than 60 percent of approved short sales do not close, which is why the bank wants to streamline the process, said BofA Senior Vice President David Sunlin by telephone Thursday.
Sunlin, who manages short sales for the bank, said the bank’s first goal still is to [...]
Written on May 22, 2009 | Posted in
Foreclosures,
Housing,
Short Sales |
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NEW YORK, May 20 (Reuters) – Bank of America Corp wants to pay back $45 billion in bail-out funds by the end of the year, accelerated by a program to raise capital, the Financial Times reported on its website late on Wednesday. The largest U.S. bank Read More..
NEW YORK, May 20 (Reuters) – Bank of [...]
Written on May 20, 2009 | Posted in
Bail Out Plan,
Housing |
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LANSING, Mich. (AP) – Gov. Jennifer Granholm will sign legislation to give Michigan homeowners facing foreclosure a 90-day window to stay in their house and potentially work out a resolution with their lender. The state Senate unanimously approved Continue
LANSING, Mich. (AP) – Gov. Jennifer Granholm will sign legislation to give Michigan homeowners facing foreclosure [...]
Written on May 20, 2009 | Posted in
Foreclosures,
Housing |
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