The Standard-Times blogged something interesting today on feeds.cbsnews.com.
Read this excerpt:
JPMorgan and Bank of America have stepped up efforts to modify mortgages for some borrowers to stave off foreclosures. JPMorgan’s program would help avoid foreclosures on an estimated $70 billion in loans.
feeds.cbsnews.com did a good write-up today.
The first bit is quoted here:
Home prices tumbled by the sharpest annual rate ever in August, with little indication of a turnaround in sight, a closely watched index showed.
Boston.com blogged something interesting today on feeds.cbsnews.com.
Sales of new U.S. homes recorded an unexpected increase in September as median home prices dropped to the lowest level in four years, the Commerce Department reported.
WBZ-TV made an interesting post today on feeds.cbsnews.com.
The number of homeowners ensnared in the foreclosure crisis grew by more than 70 percent in the third quarter of this year compared with the same period in 2007, according to data released.
Wall Street declined in erratic trading after the government said new home construction dropped by more than expected last month to the lowest pace since early 1991.
Google Inc. wrote an interesting post today on feeds.cbsnews.com.
Facing a lawsuit over deceptive mortgage practices, a Bank of America Corp. subsidiary has agreed to modify tens of thousands of loans to keep people in 11 states from losing their homes, the Illinois attorney general’s office said.
The British government is nationalizing troubled mortgage lender Bradford & Bingley, taking over the bank’s 50 billion ($91 billion) mortgage and loan books as turmoil from the U.S. credit crisis spread across Europe.
feeds.cbsnews.com had an interesting post today.
The economy’s spring rebound turned out to be slightly less energetic than the government previously thought. And, the road ahead is likely to be rocky as the country gets pounded by the worst financial crisis in decades.
JPMorgan Chase & Co. has struck a deal to acquire the deposits and some of the branches of Washington Mutual Inc., which has been battered by soured mortgages, CBS News has confirmed.
Business News: CBSNews.com got it right the other day.
As Congress moves on the financial bailout plan, restructuring of troubled mortgages should be part of the final package, the head of the Federal Deposit Insurance Corp. said.
