5 Articles match "2007","Houses","June"

• The Best from RealtyTrac

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• Will Main Street Sink Wall Street?
  
  Furthermore, to contain the damage, Bear Stearns brought in Jeffrey Lane on June 29, from rival Lehman Brothers and named him chief executive officer to replace Richard Marin, who gets the courtesy title of senior adviser to the asset-management division. Fear and anxiety could trigger a massive sell-off, exposing other Wall Street financial institutions to the same excesses of America’s housing bubble on Main Street. Mounting mortgage defaults by American homeowners with shaky credit have claimed their first Wall Street casualty, as investment banking giant Bear Stearns shuffled the leadership of its asset-management division and lost billions in the risky hedge fund market last month.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Legislating Lower Foreclosure Rates?
  
  An Illinois law intended to help reduce foreclosures is drawing cries of discrimination from some of the people it is trying to protect, according to the Chicago Defender newspaper. “Nearly 60 days after Illinois House Bill 4050 went into effect to supposedly protect consumers from predatory lenders, a coalition of Black and Latino city residents say the new law is actually destroying property values in select minority communities.” The law is a pilot program that is being applied in 10 Chicago zip codes chosen for their high foreclosure rates, among other factors. But opponents
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Mortgage Reform to Calm Foreclosure Storm
  
  In an attempt to address the recent downturn in the real estate market — evidenced by rising foreclosures and falling home prices and which many believe may threaten to undermine the overall economy — the House of Representatives yesterday passed a bill that imposes more stringent regulatory oversight of the mortgage industry. Called The Mortgage Reform and Anti-Predatory Lending Act of 2007, the bill ( H.R. 3915 ) claims to "amend the Truth in Lending Act to reform consumer mortgage practices and provide accountability for such practices, to establish licensing and registration requirements for residential mortgage originators, to provide certain minimum standards for consumer mortgage loans, and for other purposes."
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• As Home Prices Plummet, When Will You Buy?
  
  percent from July 2007, the smallest annual decline among the 20 cities tracked in the report, followed by Dallas, which reported a 2.5 June Fletcher of The Wall Street Journal sagely advises that the answer is "For some people, yes. quot;I think this time residential housing is in the 100-year flood, and I think it's going to take a long time to recover," said David Shulman, senior economist at the UCLA Anderson Forecast Home prices in 20 of the nation's major metro areas in July were collectively down 16.3 percent from a year ago, according to the
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• July Foreclosure Report
  
  foreclosure activity in July increased 8 percent from the previous month and 55 percent from July 2007, according to the RealtyTrac Foreclosure Market Report released today. View state-by-state details . That is in contrast to REOs accounting for just 16 percent of all activity in July 2007, while defaults in July 2007 were still at 41 percent and auction notices were at 43 percent. U.S. Bank Repossessions (REOs) accounted for 28 percent of all activity during the month, while defaults accounted for 41 percent and auction notices accounted for 31 percent.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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