Number of Modified Mortgages Jumps Sharply February18, 2010, Los Angeles Times The number of mortgages with permanently lowered monthly payments under the Obama administration's foreclosure prevention program increased dramatically in January. Under the federal Home Affordable Modification Program...
July Unemployment Rate Drops USA TODAY Employers throttled back on layoffs in July, cutting just 247,000 jobs, fewest in a year, and the unemployment rate dipped to 9.4%. It was a better-than-expected showing that offered a strong signal that the recession is finally ending. The new snapshot, released...
America Needs a Single Bank Regulator Financial Times In recent weeks our financial markets have shown signs of recovery thanks to unprecedented action to stabilize markets and stimulate the economy. Yet this crisis has many distressing qualities. Perhaps most dispiriting is the sense that we have seen...
As big banks on government life support — particularly Bank of America and Citigroup — continue to struggle amid rising fears that they are mortally wounded “zombie banks,” a growing chorus of industry leaders are calling for the nationalization of insolvent lending institutions...
25 People to Blame for the Financial Crisis TIME Magazine Who’s at fault? The good intentions, bad managers and greed behind the financial meltdown is exposed by TIME Magazine. View the list. HUD Secretary, Congress Debate Foreclosure Plans Washington Post Against a backdrop of record-low new home...
New Bailout May Top $1.5 Trillion Washington Post February 10, 2009 The gravity of the financial crisis confronting the Obama administration will come into stark focus today when officials unveil a three-pronged rescue program that may commit up to $1.5 trillion in public and private funds, and possibly...
Posted to
Foreclosure community blog resource powered by RealtyTrac
by
Octavion
on
10 Feb 2009
Filed under:
Filed under: Pre-Foreclosures, Real Estate Trends, Recession, housing slump, RealtyTrac, ForeclosureTrends, mortgage meltdown, Real Estate News, real estate, foreclosure statistics, foreclosure filings
Cracks are appearing in the foundation of the housing market as shock waves — triggered by concern over a surge in bad subprime mortgages — jolted the stock market this week, sending the Dow Jones industrial average downward by more than 243 points, amid fears that a mortgage meltdown in the subprime...