Mortgage Bust - News for the New Depression

[caption id="attachment_507" align="alignnone" width="300" caption=""][/caption] "The economy is still in the gravitational pull of the Great Recession," said Robert Reich, former US labour secretary. "All the booster rockets for getting us beyond it are failing." Let us be honest. The ...

Like that will help them fool everyone. Reuters News NEW YORK, March 22 (Reuters) - Workmen rolled up their sleeves at American International Group Inc (AIG.N) this weekend to take down the most prominent sign at the downtown Manhattan offices of the embattled insurer that has ...

MSNBC WASHINGTON - Struggling to contain the worst financial crisis in seven decades, the Obama administration wants to buy billions of dollars of toxic assets from banks to ease borrowing for consumers and businesses. Some industry officials familiar with the details said Saturday they expected the approach would try ...

Full Story Here The company has agreed to implement a financial restructuring that will reduce its debt by about $8 billion. Two of its subsidiaries, CCH I Holdings LLC and Charter Communications Holdings LLC, will make interest payments of about ...

Home prices see another record plunge 10 major markets have seen home values fall 17.7% over the past 12 months, and experts expect the declines to continue. NEW YORK (CNNMoney.com) -- Home prices fell in August for the 25th consecutive month and prices in 10 major markets plunged a record ...

AP SAN DIEGO – After struggling just to pay his $300 monthly rent and send money to his wife and two children back in Honduras, Dionisio Urbina has given up. The day laborer is saving for a one-way plane ticket home. "I lost hope about finding work," the ...

WASHINGTON - 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 Thursday. Nationwide, nearly 766,000 homes received at least one foreclosure-related notice from July through September, ...

NEW YORK – Wachovia Corp. on Wednesday reported a staggering $24 billion loss as it took a goodwill impairment charge of nearly $19 billion ahead of its acquisition by Wells Fargo ...

The Federal Reserve Board on Tuesday announced the creation of the Money Market Investor Funding Facility (MMIFF), which will support a private-sector initiative designed to provide liquidity to U.S. money market investors. Under the MMIFF, authorized by the Board under Section 13(3) of the Federal Reserve ...

New laws require mortgage holders to give sufficient notice to tenants MIAMI - Tita Mendoza and her husband moved into their Miami Beach condo in June and have been dutifully paying the $1,800 rent on time every month. And yet, they could be evicted any day now. ...