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The Federal Reserve will issue new rules next week aimed at protecting future homebuyers from dubious lending practices, its most sweeping response to a housing crisis that has propelled foreclosures to record highs.- 12:26 AM
A mortgage rescue plan to save hundreds of thousands of homeowners from foreclosure drew overwhelming Senate support, inching toward passage despite Republican objections.- 10:44 AM
Faced with record-high foreclosure rates, the Bush administration has been scrambling to keep people from losing their homes, but many are beyond help, Treasury Secretary Henry Paulson said Tuesday.- 7:16 PM
Shares of mortgage financiers Fannie Mae and Freddie Mac bounced back Tuesday, a day after plunging over worries the pair might need billions of dollars in new capital if a new accounting rule is put into effect.- 5:06 PM
My husband and I were living in a small, but cheap, apartment in a great part of the city when we were expecting our first child. Little debt, owned our car outright, with savings in the bank, good credit, good jobs, and a bright future.- 1:16 PM
Mortgage lender IndyMac Bancorp Inc., struggling to raise capital to stay in business, said Monday it has stopped accepting new loan submissions in its main mortgage lending divisions and plans to slash 3,800 jobs, or more than half of its work force.- 7:47 PM
Home foreclosures will keep rising next year no matter who is elected president in November.- 1:23 PM
Q. I will be making my last mortgage payment on my house in the near future. I know I will be responsible for paying insurance and property taxes, but I do not know what information or paperwork I will need to ask for, or receive from my lender to complete my dealings with them. Any information or direction would be very much appreciated.- 4:51 PM
Sharon Stehmeier has been a real estate broker for 38 years, and has never had a flood derail a closing.- 4:51 PM
Nearly a year into the credit crunch, the mortgage and housing markets remain confusing and difficult for many consumers.- 4:16 PM
President Bush says it has been a "tough month" in Afghanistan with rising US casualties.- 11:01 AM
CIT Group Inc. said Tuesday it will sell its home lending business to Lone Star Funds for $1.5 billion in cash, plus $4.4 billion of assumed debt, in a move to exit the troubled mortgage arena and focus on its commercial finance operations.- 2:10 PM
Gov. Mike Easley called on state lawmakers Tuesday to make up for the federal government's inaction by approving a measure to help some struggling North Carolina homeowners by giving them more latitude to repay their debt.- 6:55 PM
Bank of America Corp. completed its purchase of Countrywide Financial Corp. Tuesday, making the Charlotte-based bank the nation's leading mortgage originator and servicer.- 6:10 PM
Beleaguered consumer bank Wachovia Corp. said Monday it will quit offering a mortgage payment option that allows borrowers to pay less each month than the bank charges in interest.- 5:56 PM
Michigan's Up North destinations such as Traverse City, Petoskey, Charlevoix and Harbor Springs still command serious money in resort real estate.- 1:35 PM
The economy turned in a better - but still subpar - performance in the first three months of this year, mostly spurred by stronger sales of U.S. products overseas.- 1:16 PM
Homebuilder Lennar Corp. said Thursday it managed to narrow its second-quarter loss, but CEO Stuart Miller gave a dour outlook for the industry, saying the housing market has yet to hit bottom and ruling out the prospects of a recovery this year.- 4:55 PM
Q. I would like your advice on what I can do about a property that my sister, brother-in-law and I own. We purchased a beach house in North Myrtle Beach, S.C., last September from a developer represented by an agent. We informed the agent we wanted an investment we could sell for a profit. The problem is the property was misrepresented to us in that the agent told us all the units in this development were reserved with deposits. This turned out to be untrue.- 1:35 PM
Rates on 30-year mortgages rose again this week, climbing to the highest level in more than nine months, reflecting more concerns about how the Federal Reserve will respond to higher inflation pressures.- 3:05 PM
