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Stories related to: mortgage

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  • August 2007

    • American Home Mortgage Closes Its Doors

      newser  |  New York Times  |  Aug 3, 07 9:25 AM CDT

      American Home Mortgage Closes Its Doors

      The battered mortgage-lending industry will suffer another blow today as American Home Mortgage shuts down, making it the latest company to go under as home loans go bad across the country. AHM's troubles were common knowledge, the Times reports, but the speed of its downfall was unexpected. “We have no realistic alternative,” says the CEO. More »

      Tags

      subprime mortgages  • housing market  • mortgage  • borrowers  • home loans  • American Home Mortgage

    • Banks Tighten Credit Squeeze

      newser  |  Wall Street Journal  |  Aug 3, 07 4:38 AM CDT

      Banks Tighten Credit Squeeze

      Lenders are cutting credit, tightening standards or raising interest rates to a broader range of borrowers beyond those with weak credit records who qualify for subprime loans, the Wall Street Journal reports. Panic is spreading to a category of mortgages between subprime and prime that often involves borrowers who don't fully document income, or those buying for investment—about 13% of the market. More »

      Tags

      subprime mortgages  • mortgage  • interest rate  • loans  • Wells Fargo  • IndyMac  • National City

    • Subprime Woes Rock Another Bear Stearns Fund

      newser  |  Wall Street Journal  |  Aug 1, 07 5:40 AM CDT

      Subprime Woes Rock Another Bear Stearns Fund

      Bear Stearns has blocked withdrawals from a mortgage investment fund amid Wall Street jitters over the crisis in high-risk subprime mortgages, the Wall Street Journal reports. Two Bear Stearns hedge funds heavily invested in subprime mortgages collapsed in June, and now another fund, which has only a tiny fraction of its assets in subprimes, is taking a beating. More »

      Tags

      subprime mortgages  • Bear Stearns  • mortgage  • hedge fund  • investment  • American Home Mortgage

  • July 2007

    • Home Resales Slump in June as Mortgage Rates Spike

      newser  |  Wall Street Journal  |  Jul 25, 07 1:57 PM CDT

      Home Resales Slump in June as Mortgage Rates Spike

      Sales of existing homes dropped in June to a 5-year low because of rising mortgage rates and stricter lending standards. Home resales dipped 3.8% from a 5.98 million annual rate in May to a 5.75 million rate now. "The housing recession looks far from over," an economist tells the Wall Street Journal. More »

      Tags

      US economy  • recession  • housing market  • mortgage  • Freddie Mac  • homes  • houses  • economist  • quarters  • resales

    • Best Places to Call Home 2007

      newser  |  CNN  |  Jul 17, 07 4:02 PM CDT

      Best Places to Call Home 2007

      Some places have it all: affordable, good schools, job opportunities, family friendly, and plenty of stuff to do. Money magazine is out with its annual list of the best places to live in America. The top 10: Middleton, Wisc. Hanover, NH Louisville, Colo. Lake Mary, Fla. Claremont, Calif. More »

      Tags

      list  • housing market  • mortgage  • home

    • New Flood of Foreclosures Looms

      newser  |  CNN  |  Jul 10, 07 5:24 AM CDT

      New Flood of Foreclosures Looms

      When adjustable-rate mortgages are increased this year, hundreds of thousands of subprime borrowers  could lose their homes, triggering a precipitous drop in the housing market, CNNMoney reports. The threat is the latest in the emerging subprime loan crisis. Heartland industrial areas, as well as once-hot markets in California, Nevada and Florida, are expected to be hit hard. More »

      Tags

      subprime mortgages  • housing market  • housing crisis  • mortgage  • borrowers  • home loans  • loans

    • Scams Target Delinquent Homeowners

      newser  |  New York Times  |  Jul 3, 07 5:45 PM CDT

      Scams Target Delinquent Homeowners

      A new form of fraud is thriving in the declining housing market, targeting desperate homeowners who are late on their mortgage payments. Known as equity strippers, companies cold-call burdened borrowers, promising a reprieve from their financial woes. In the end, they profit, and the owners end up losing their  home anyway, reports the New York Times . More »

      Tags

      housing market  • foreclosure  • fraud  • mortgage  • borrowers  • homeowners  • homes

  • June 2007

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