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Mortgage Meltdown Hits Small Builders

Wave of bankruptcies could in turn weaken regional banks

By Rob Quinn, Newser Staff

Posted Mar 21, 2008 3:00 AM CDT

(Newser) – The housing market collapse that's sending homeowners into foreclosure is starting to hit small- and medium-size builders left with developments they're unable to sell, the Wall Street Journal reports. Buyers are canceling contracts and builders are missing mortgage payments on often highly leveraged projects. Small... Read full story »

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Mortgage Meltdown Hits Small Builders

Wave of bankruptcies could in turn weaken regional banks

housing market • bankruptcy • construction • mortgage • small businesses • homebuilders • banking • subprime crisis • residential building • foreclosures

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More Newser Stories

Watchdog: Feds Need to Expand Foreclosure Plan

$50B plan proving ineffective as more mortgage holders lose their jobs

Foreclosure Crisis Wallops Minority Neighborhoods

Lenders accused of 'redlining' black neighborhoods for subprime loans

Federal Mortgage Plan Not Helping the Neediest: Critics

Only 2K in danger of foreclosure have been able to take advantage, stats show

Housing Starts Hit 17-Year Low

March starts plummet 11.9% as foreclosures create glut on market

Facing Foreclosure? BofA to Let You Rent Your Home

New 'mortgage to lease' program kicks off in test markets

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