| Bank of America's Acquisition of Countrywide: Positives and Negatives |
| butterflylister |
| 1/21/2008 |
| When Bank of America announced its agreement to purchase Countrywide Financial on January 11, the $4 billion deal was met with mixed feelings by many. Initially the deal was met with skepticism and shares of Countrywide dropped 18% to $6.33 - 10%....(more) |
|
| Countrywide to be Acquired by Bank of America |
| butterflylister |
| 1/15/2008 |
| The Associate Press recently announced Bank of America's plans to buy Countrywide Financial for $4.1 billion in stock. Essentially, the deal will bail out an immensely troubled Countrywide Financial Corp. Countrywide posted huge quarterly....(more) |
|
| Bear Stearns CEO to Resign |
| butterflylister |
| 1/9/2008 |
| James Cayne, chief executive officer of Bear Stearns, has plans to relinquish his duties to Alan Schwartz and step down as the company's CEO as early as tomorrow, according to a report by CNNmoney.com. The Bear Stearns....(more) |
|
| Fannie Mae Exec Faces Off at Shareholders Meeting |
| butterflylister |
| 12/26/2007 |
| A CNNmoney.com article recently reported that Fannie Mae's chief executive, Dan Mudd, estimates that the average home price in the United States will decline another 4 to 5 percent in 2008."The mortgage-finance firm [will] not see a....(more) |
|
| Congress Considers a Mortgage Bankruptcy Bill |
| butterflylister |
| 12/12/2007 |
| A House committee is scheduled to vote on a mortgage bankruptcy bill today that would allow judges to modify subprime and nontraditional loan terms on a borrower's primary residence. Facing pressure to help constituents avoid....(more) |
|
| Bush Unveils Subprime Plan to Critical Crowd |
| butterflylister |
| 12/7/2007 |
| The unveiling of President Bush's foreclosure relief plan was announced yesterday as foreclosure rates reached a record high of 0.78%. According to the White House, the plan could help as many as 1.2 million distressed homeowners. ....(more) |
|
| An Update on Interest Rates |
| butterflylister |
| 12/6/2007 |
| 30-year, fixed-mortgage rates fell to the lowest level in two years, according to a report by MSNBC. Additionally, rates on 15-year fixed-rate mortgages, a popular option for refinancing, fell to 5.73 percent this week. Mortgage....(more) |
|
| Plans to Freeze ARM Rates |
| butterflylister |
| 12/3/2007 |
| Bush administration officials have been meeting with top industry leaders recently about possible freezes on adjustable rate mortgages (ARMs) to avoid thousands of homeowners going into default and sending the economy into deeper recession. Groups....(more) |
|
| Analysis: Is There a Recession among Us? |
| admin |
| 11/27/2007 |
| Assuming you are looking for buying or selling a home and knowing if the real estate market is in a recession or not is certainly of high interest to you. This can greatly impact the potential savings as a buyer, and of course have an adverse negative....(more) |
|
| Defining the 3Rs: Real Estate Recession Reasons |
| admin |
| 11/27/2007 |
| The definition of a real estate recession is when your market area is in negative growth. This means that not many new homes are being built. For the majority of us, this is not great news. It means that money is not changing hands, buying....(more) |
|
