Maybe there’s a way to thrive in the howling wasteland that is the home-loan market. Bonds backed by mortgages look like a buying opportunity, assuming a new spate of defaults doesn’t send their prices tumbling again.
Maybe there’s a way to thrive in the howling wasteland that is the home-loan market. Bonds backed by mortgages look like a buying opportunity, assuming a new spate of defaults doesn’t send their prices tumbling again.
Fannie Mae is preparing a program of refinancing mortgages for people who owe more than the current value of their homes. The plan is the latest twist in efforts to contain the surge in foreclosures in much of the U.S.
Ian Bruce Eichner is on the verge of losing control of his Las Vegas casino-resort project — 16 years after a similar loss in Times Square. His roller-coaster track record shows that in commercial real estate, failure on an epic scale need not be a career killer.
A small fish with a healthy appetite for mosquito larvae is being pressed into service in California, Arizona, Florida and other areas struggling with foreclosures. The problem: swimming pools of abandoned homes have turned into breeding grounds.
A major provision of the housing-market legislation passed by the House Thursday might not help as many borrowers as some expect, trade groups that represent mortgage companies say.
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