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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. 45sgx35cr5 While home prices plunged compared with the same time last year, the median sales price for existing homes in the [...]
The government will pay mortgage-servicing companies up to $1,000 and borrowers up to $1,500 for successful short sales or “deeds in lieu” transactions. It will also spend up to $1,000 to help defray the cost of getting holders of second mortgages to release their liens so these transactions can be completed. Short sales have accounted [...]
Nobel-prize winning economist Paul Krugman said in remarks published on Monday that the latest U.S. Treasury bailout program is nearly certain to fail, triggering a sense of personal despair. U.S. Treasury Secretary Timothy Geithner on Monday unveiled a plan aimed at persuading private investors to help rid banks up to $1 trillion in toxic [...]
WASHINGTON – In an op-ed piece published in the Wall Street Journal, U.S. Treasury Secretary Timothy Geithner offers an update on the Administration’s efforts to stabilize the financial system. To read the piece online: http://online.wsj.com/article/SB123776536222709061.html. The text of the piece follows: The American economy and much of the world now face extraordinary challenges, and confronting [...]
