1 Articles match "Associated","Homes","HSBC"

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Subprime meltdown means jump in foreclosures
As more lenders go bankrupt and more Americans default on home loans, a jump in foreclosures is expected. The mortgage industry plunged deeper into distress this month as two of the biggest subprime lenders — London’s HSBC Holdings and Irvine-based New Century Financial Corp. — reported big losses from loan defaults due to sagging home prices and higher interest rates. Panic is spreading in the U.S. subprime mortgage market after the bankruptcy of at least 20 lenders in the last two months, triggering a mass liquidation of securities on Wall Street and an avalanche of foreclosure
www.foreclosurepulse.com - Tuesday, December 16, 2008
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  • Subprime meltdown means jump in foreclosures
    As more lenders go bankrupt and more Americans default on home loans, a jump in foreclosures is expected. The mortgage industry plunged deeper into distress this month as two of the biggest subprime lenders — London’s HSBC Holdings and Irvine-based New Century Financial Corp. — reported big losses from loan defaults due to sagging home prices and higher interest rates. Panic is spreading in the U.S. subprime mortgage market after the bankruptcy of at least 20 lenders in the last two months, triggering a mass liquidation of securities on Wall Street and an avalanche of foreclosure
    www.foreclosurepulse.com - Tuesday, December 16, 2008
    READ MORE