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The Bank of America-Countrywide Merger
The Bank of America’s $4 billion purchase of Countrywide Financial Corporation is now being scrutinized by just about every Wall Street analyst and financial columnis
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The Bank of America-Countrywide Merger
The Bank of America’s $4 billion purchase of Countrywide Financial Corporation is now being scrutinized by just about every Wall Street analyst and financial columnis
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America's Most Expensive Foreclosure?
The widow of one of America’s richest publishing dynasties, Randolph Hearst , lost her battle to maintain the mansion under the crushing weight of an astounding $40 million in defaulting loans, according to the Palm Beach Post . Mention the word “foreclosure” and most homebuyers and investors conjure up images of run-down and dilapidated properties located in undesirable neighborhoods. But now some of the most opulent estates are increasingly becoming available for savvy investors and homebuyers as a growing number of well-healed homeowners are defaulting on their mortgage payments
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Do New Mortgage Rules Make Borrowers Safer?
You could hardly miss the headlines this week: More than 1,000 news outlets covered new rules from the Federal Reserve designed to “protect” America’s mortgage borrower
RealtyTrac Article Library
- Thursday, July 17, 2008
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Do New Mortgage Rules Make Borrowers Safer?
You could hardly miss the headlines this week: More than 1,000 news outlets covered new rules from the Federal Reserve designed to “protect” America’s mortgage borrower
RealtyTrac Article Library
- Thursday, July 17, 2008
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New Ultimatum Hits Lenders: Buy Loans or Foreclose
It was in early October when Bank of America said it would modify 400,000 mortgages originated during past few years by its newly acquired Countrywide subsidiar
RealtyTrac Article Library
- Monday, December 8, 2008
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From $2B Bailout to $4B Buyout at Countrywide
Just late last year Bank of America infused $2 billion into the coffers of Countrywide Financial to support the floundering lender’s attempt to survive the subprime mortgage mess — which reportedly almost forced the firm into filing for bankruptcy protection earlier this week. Now with Countrywide’s stock weak and its value depressed, it is being widely reported that Bank of America is paying $4 billion in stock to buy out the company — in which it already had a 16 percent stake in convertible preferred stock after the bailout. It didn’t take long from a historical perspective.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Will Main Street Sink Wall Street?
The near-collapse of the two Bear Stearns hedge funds proves that the depth of America’s foreclosure fiasco is far from over. 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. Two Bear Stearns
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Big Ben Is Finally Talking Foreclosures
Speaking at the Independent Community Bankers of America Convention in Orlando, Bernanke noted that 1.5 million subprime loans (or approximately 40 percent of the outstanding stock of subprimes) were going to reset in 2008 from just above 8 percent to about 9.25 Big Ben Bernanke, that guy at the top of the nation’s financial food chain, finally admitted Tuesday in an address to a group of the nation’s community bankers that foreclosures are not going to go away anytime soon. The Fed Chief gave two reasons for the bleak forecast (both of which have been espoused in previous posts in this blog): 1) further declines in housing prices are expected; and 2) significant resets of adjustable interest rates to unaffordable levels for many borrowers who were convinced to take out the more risky loan products of the past few years.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Foreclosures in Money's 'Best Places to Live'
Money magazine came out last week with another of its Top 10 lists; this one called "America’s Best Places to Live 2006 ." And the winner is . . . Fort Collins, Colorado. Why Fort Collins? The folks at Money say it’s because the city, “combines the
www.foreclosurepulse.com
- Tuesday, December 16, 2008
