10 Articles match "America","May"

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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. While it is unlikely to bring down the savvy Wall Street firm, the firm may become a potential target for government regulators, class-action lawsuits and expose the investment bank to a hostile takeover. Fear and anxiety could trigger a massive sell-off, exposing other Wall Street financial institutions to the same excesses 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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• 40 Is the New 30 for Lenders and Investors
  
  Wells Fargo, for example, just announced that it is joining the growing number of lenders, like Washington Mutual and Bank of America, that are offering 40-year fixed-rate loans. Still, this new loan may be a viable alternative to home buyers who may soon be finding themselves in trouble with the popular interest-only and option adjustable-rate mortgages -- especially if the Fed ups the interest rates more this year due to increased fears of inflation.stemming from higher energy costs and low unemployment. Well, as Fed Chairman Ben Bernanke decides on his next move -- will he or wont he ratchet up interest rates another 25 basis points next month as most economists are predicting -- mortgage lenders are also pondering their next moves.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Fed Gives in to Peer Pressure
  
  So were lending institutions like Bank of America , which immediately lowered its prime rate. In a published report released Wednesday, RealtyTrac VP of Marketing Rick Sharga stated that the reduction of the federal funds rate may help moderate future foreclosure activity somewhat in two important ways: 1) some people who may have gone over the edge into foreclosure may be spared if the reduction means the rate on their adjustable rate mortgage isn’t reset as high as originally anticipated; and 2) money that has been held out of the credit pool by investors may find its way to Wall
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• It Used to Be a Day Job
  
  The greatest fear seems to be that many of the more than 100,000 of these workers who are looking for work every day may end up homeless and thus become further open to ridicule for being illegal aliens at a time when illegal immigration is a hot campaign issue during a closely contested presidential race. That, in my estimation, is what America is all abou The far-reaching implications of the nation’s foreclosure crisis continue to snowball a little more every day. In its latest evolution, what started out as the lending industry selling undesirable loans to undeserving/unqualified
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Not Enough Rope in Administration's Lifeline' Program
  
  The Administration has encouraged six of the nation’s largest lenders — Bank of America, Citigroup, Countrywide Financial Corp., A last-chance opportunity to take a step back and get a final break from the process long enough to consider other financial options may bring some light into an otherwise dark tunnel of financial ruin for these homeowners. The Lifeline program is a baby step that simply doesn’t go far enough. Just a few short months ago President Bush stood in front of the press and swore that it was not the federal government’s job to bail out either lenders who made bad loans or speculative homebuyers who purchased more home than they could rightly afford utilizing the so-called “exotic” or “liar loans” popularized over the past few years.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• How Much for Those Lender Assets in the Window?
  
  In September Merrill was bought by the Bank of America for $29 a share . What they show is that investors today, including Uncle Sam, should be able to value mortgage paper with some clarity.” The catch, said Saccacio, is that loan portfolios likely differ so much that generalizations may not work. “Every would-be buyer of mortgage-related securities will have to review portfolios with enormous care. Hopefully the WAMU portfolio is not typical, otherwise Uncle Sam may need a lot more than $700 billion How Much for Those Lender Assets in the Window? By Peter G.
  www.realtytrac.com - Tuesday, February 3, 2009
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• Another Approach to $700 Billion Bailout
  
  What do you think? Posted 09-29-2008 1:50 PM by darenb Filed under: Foreclosure Trends , Real Estate Trends Comments
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• High-End Foreclosures Rising Among Top Tier Homes
  
  an exclusive beachfront community and one of America’s wealthiest cities. Maricopa’s Millionaire Mortgage Meltdown If Beverly Hills and Santa Barbara are too pricey, deals may be had in several other playgrounds of the rich and famous. High-End Foreclosures Rising Among Top Tier Homes By Octavio Nuiry, RealtyTrac Staff Writer    Until now, the foreclosure crisis was confined to a narrow niche of middle-class urban communities and outer-rim new housing developments where first-time homeowners and real estate speculators benefited briefly from favorable financing.
  www.realtytrac.com - Tuesday, February 3, 2009
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• As Home Prices Plummet, When Will You Buy?
  
  For example you see Bank of America adopting a massive, systematic loan modification program. The irony of all this may be that just as the market was beginning to find some footing and correct itself in these hard-hit areas, the government jumps in to try to save everyone and thereby undercuts those shaky steps toward a recovery. child will take a lot longer to learn to walk if her parent never lets her try on her own, but rushes over and picks her up everytime she stands up and Home prices in 20 of the nation's major metro areas in July were collectively down 16.3 percent from
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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