California sues Countrywide over loan practices - 06/25/08 12:42 PM
California Attorney General Jerry Brown filed a lawsuit Wednesday against the nation's largest home loan lender, charging Calabassas-based Countrywide Financial Corp. with deceptively pushing homeowners into risky, mass-produced loans that have caused thousands of residents across the state to lose their homes.
Brown joins the state of Illinois, which is also … (1 comments)
Outlook on gas prices situation - 06/18/08 07:57 PM
Today, I have some bad news. The pain at the pump is probably going to get a lot worse. In fact, if you think gas prices are rising quickly now, the move this summer could seem practically supersonic.
1.) Gasoline Starts to Outpace Crude Oil. Over the past year, gasoline prices … (2 comments)
FHA Property-flipping rule suspended - 06/16/08 12:50 PM
The White House temporarily suspends a rule that imposes a 90-day waiting period before foreclosed homes can be sold to receive government loans.
The Bush administration is temporarily suspending a 5-year-old rule intended to deter property flippers, as part of an effort to help speed the sale of foreclosed properties.
For … (1 comments)
73,000 homes lost to foreclosure in May - 06/16/08 12:48 PM
Filings for the month jumped by 48%. Nevada, California, and Florida continue to bear the brunt of the crisis.
The housing crisis grew worse in May, as more than 73,000 American families lost their homes to bank repossessions, up a staggering 158% from the 28,548 households that were dispossessed in May … (0 comments)
For this broker, foreclosures spell boom - 06/11/08 11:08 AM
It's good to see positive things happening in the market. I wanted to share a success story of how agents are really taking advantage of this market.
David McIlvaine has the right specialty in a housing crisis: He sells homes that banks have taken back from borrowers who can't pay their … (0 comments)
FHA chief balks at taking on more bad loans - 06/09/08 02:02 PM
Maybe the government isn't going to bail out as many people as we all thought. It looks like to me that someone is finally starting to think ahead being proactive instead of being reactive.
Federal Housing Administration Commissioner Brian Montgomery said a plan for his agency to take on two million … (2 comments)
Jobless spike deepens economic pain - 06/06/08 11:39 AM
Biggest jump in unemployment rate since 1986 - combined with energy and housing woes - stokes fears about recession.
A spike in the unemployment rate - the biggest in more than two decades - raised new concerns Friday that a weak labor outlook, high oil prices and continuing woes in the … (2 comments)
Homes in foreclosure top 1 million - 06/05/08 01:36 PM
Mortgage bankers report hits grim a benchmark in first quarter, showing a record number of homes in jeopardy.
More than one million homes are now in foreclosure, the highest rate ever recorded, according to a trade group which warned Thursday that number will continue to climb.
The Mortgage Bankers Association's first … (1 comments)
4 great reasons to rent - 06/05/08 12:44 PM
I guess when you start reading articles such as these published in local newspapers, it doesn't help the already battered housing market. I'm sure it makes sense for some people to rent, however, with being what they are it would be foolish not to take advantage of the tax savings of … (1 comments)
6 ways you're wasting gas - 06/04/08 05:46 PM
With the ever increasing gas prices, I thought this gas saving blog could benefit all of us.
1. Racing away from green lights
When the light turns green, you don't have to take off as quickly as possible. That pedal under your right foot is called the "gas pedal" for a … (8 comments)
Lenders foot the bill for abandoned homes - 06/02/08 11:13 AM
Foreclosed homes that lie vacant and rundown need their lawns mowed and their yards cleaned up. Cities say taxpayers shouldn't have to bear that burden.
Weeds stand waist high on the front lawn of the wood-frame, single-family house in Cleveland's Slavic Village neighborhood. Trash spills out open doorways into the driveway … (1 comments)
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California Attorney General Jerry Brown filed a lawsuit Wednesday against the nation's largest home loan lender, charging Calabassas-based Countrywide Financial Corp. with deceptively pushing homeowners into risky, mass-produced loans that have caused thousands of residents across the state to lose their homes.
