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RISMEDIA, March 23, 2007-Pat Vredevoogd Combs, president of the National Association of Realtors®, on March 16 released the following statement to NAR members on Wal-Mart's decision to withdraw its application to open an industrial loan company (ILC).For more information, visit http://www.Realtor.org/press_room/news_releases/2007/wal_mart_withdrawl_of_bank_application.html.RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.
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Subprime mortgage lender New Century Financial Corp.??™s problems deepened Tuesday as the New York Stock Exchange took steps to delist its shares and the company disclosed that the Securities and Exchange Commission was conducting a preliminary inquiry into the accounting errors that inflated the value of its loan portfolio.
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Foreclosure activity in Los Angeles spiked 76 percent in November, pushing the city??™s foreclosure rate back above the national average.
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The government is monitoring the distress in the subprime mortgage industry and believes the current situation is ???manageable,??? a high-level Treasury Department official said Monday.
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Two reports that contribute to the picture of the housingindustry were released on Monday. After news from the subprimemortgage market, the quarterly delinquency report, and the accompanyingreaction of the stock market the two most recent pieces of information werepretty much non-events and the stock market reacted enthusiastically.
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Read full story for latest details.
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While it might seem odd for a board to limit the rent amount, there is probably a good reason for the board?s action.
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Is the mortgage market more risky than it used to be? Does this mean more foreclosures loom ahead? It's been obvious since they first became popular a few years ago that interest-only and option ARMs represent new and unknown levels of hazard. As the
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When it comes to buying a home from a financially-distressed homeowner, many people conjure up the image of vultures swooping in on their helpless prey.But thanks to services like RealtyTrac, there??™s an opportunity for a much more positive transactio
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This week's Carnival of Real Estate is being hosted by my sister blog at Seattle P-I: Seattle Real Estate Professionals.
Click here for the link.
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