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Rust Belt cities fight glut of abandoned houses
Rust Belt cities, already beaten down before foreclosures began spiraling nationally, are moving to cut the number of houses left vacant when the mortgage cant be paid.
KB Home, Countrywide sued for inflating prices
Two California couples are suing KB Home and mortgage lender Countrywide Financial Corp., claiming the companies schemed with real estate appraisers to inflate prices paid for homes as the housing market began to tank.
FBI probes 14 companies in subprime mess
The FBI said it is investigating 14 companies for possible fraud or insider trading violations in connection with loans made to risky borrowers, and investments spun off of those loans.
Countrywide helps subprime borrowers
Countrywide Financial Corp., under pressure to help stem growing home loan defaults, says it will expand programs to help borrowers manage their mortgage payments regardless of the type of subprime loan they have or whether they have already fallen behind on payments.
Stimulus plan helps some homeowners
The biggest winners in the economic rescue plan now awaiting President Bush’s signature are likely to be Americans with more expensive homes who will be able to refinance their home loans at cheaper rates.
Day laborers saw better days before foreclosuresThe most desperate men park themselves on corners well before dawn, hoping for first dibs on jobs. Most days, no one gets dibs no one gets jobs.
Rising foreclosures pressure home prices
A growing share of home sales are from foreclosures, especially in states hardest hit by the housing bust. In some parts of California lately, nearly 50 percent of home sales come from foreclosed houses.
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