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4 Articles match "Bank of America","Houses"
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The Latest from RealtyTrac
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As Home Prices Plummet, When Will You Buy?
Home prices in 20 of the nation's major metro areas in July were collectively down 16.3 quot;There are signs of a slow down in the rate of decline across the metro areas, but no evidence of a bottom," said David M. Blitzer, Chairman of the Index Committee at Standard & Poor's, in a press release issued to announce the numbers. "Little percent from a year ago, according to the S&P/Case-Shiller Home Price Index released today. Prices in those metro areas were down 19.5
www.foreclosurepulse.com
- Tuesday, December 16, 2008
Fed Gives in to Peer Pressure
percent in hopes of curtailing the housing crisis befalling this country, while still keeping a careful eye on inflationary concerns. In a simultaneous move Tuesday, the Fed’s Board of Governors also reduced its discount rate (the rate charged by banks to each other to borrow funds overnight) by 50 basis points to 5.25 The impact, and reaction, to the cut in the Fed’s short term rate that dictates the interest consumers Television reporters — their crystal balls in tow — were talking about it like it was a done deal before it was even announced. Analysts were beyond
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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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The Best from RealtyTrac
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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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Fed Gives in to Peer Pressure
percent in hopes of curtailing the housing crisis befalling this country, while still keeping a careful eye on inflationary concerns. In a simultaneous move Tuesday, the Fed’s Board of Governors also reduced its discount rate (the rate charged by banks to each other to borrow funds overnight) by 50 basis points to 5.25 The impact, and reaction, to the cut in the Fed’s short term rate that dictates the interest consumers Television reporters — their crystal balls in tow — were talking about it like it was a done deal before it was even announced. Analysts were beyond
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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Not Enough Rope in Administration's Lifeline' Program
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. Called “Project Lifeline,” it has the backing of Alphonso Jackson, Secretary of Housing and Urban Development, and Faith Schwartz, Executive Director of the Hope Now Alliance, a foreclosure prevention coalition of the public and private sectors.
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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As Home Prices Plummet, When Will You Buy?
Home prices in 20 of the nation's major metro areas in July were collectively down 16.3 quot;There are signs of a slow down in the rate of decline across the metro areas, but no evidence of a bottom," said David M. Blitzer, Chairman of the Index Committee at Standard & Poor's, in a press release issued to announce the numbers. "Little percent from a year ago, according to the S&P/Case-Shiller Home Price Index released today. Prices in those metro areas were down 19.5
www.foreclosurepulse.com
- Tuesday, December 16, 2008
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