Aug 01 How exactly did the banks lose money? Question/Comment: My question about the mortgage crisis is this: how exactly did the banks lose money? It seems that people who put deposits on the loans that were foreclosed upon lost their money, not the banks. The banks… Continue reading
Jul 25 Foreclosures More than Double; Uptick Seen in Durable Goods By Admin, PBS News Hour U.S. homeowners lost 220,000 homes to foreclosure in the second quarter, according to a report issued Friday by RealtyTrac, Inc., a marketer of foreclosed homes. Continue reading
Jul 10 Fannie Mae, Freddie Mac Stocks Tumble over Bailout Fears By PBS News Hour Shares of government-chartered mortgage giants Fannie Mae and Freddie Mac plunged to their lowest levels since 1991 in Thursday trading over concerns the companies won't be able to raise necessary capital. Continue reading
Jun 24 Home Prices, Consumer Confidence Take Tumbles By PBS News Hour U.S. home prices extended their record slide in April, with every top metropolitan area now posting annual losses and many showing double-digit declines, according to the Standard & Poor's/Case-Shiller home price index report released Tuesday. Continue reading
Jun 19 More than 400 Arrested in Mortgage Fraud Sting By Admin, PBS News Hour More than 400 real estate industry workers have been indicted since March in a Justice Department crackdown on incidents of mortgage fraud nationwide -- a key contributing factor to the country's housing crisis. Continue reading
Apr 29 Number of Homes Headed to Foreclosure Doubles By Admin, PBS News Hour The number of U.S. homes headed toward foreclosure in the first quarter of the year more than doubled from the same period a year ago, a real estate data firm announced Tuesday. Continue reading
Apr 11 Watch Clinton, Obama Battle in Pa.; McCain Talks Housing Democratic candidates Barack Obama and Hillary Clinton continued to campaign heavily in Pennsylvania ahead of its April 22 primary, while presumptive GOP nominee John McCain further outlined his economic proposals at a campaign stop in New York. Continue watching
Mar 25 Watch Housing Crisis Draws Attention from Candidates Presumptie GOP nominee Sen. John McCain warned Tuesday against hasty government involvement in the U.S. mortgage crisis, while both Democratic candidates have called for increased regulation of lenders. An analysts considers the state of the housing market. Continue watching
Mar 25 Watch Foreclosure Rates Reflect Human Cost of Mortgage Meltdown The city of Baltimore has lately seen skyrocketing foreclosure rates and slumping home prices. The housing shake-up led the city to sue its largest lender -- Wells Fargo -- over allegations that it gave black homebuyers higher loan rates than… Continue watching
Mar 24 Watch JP Morgan Raises Bear Stearns Buyout Bid Amid stockholder discontent, JP Morgan Chase raised its bid to buy investment bank Bear Stearns Monday from $2 a share to $10 a share. A New York Times financial reporter helps explain the buyout. Continue watching