Mortgage Meltdown - Real Estate

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Fannie and Freddie suspend foreclosures

5:19pm: By halting evictions, the mortgage giants get time to implement a recent rescue plan. (more)

Mortgage rates down - 3rd straight week

2:52pm: Freddie Mac cites weakening economy for easing of long-term rates. (more)

U.S. tries new tack on housing

Nov 19: Department of Housing and Urban Development makes changes to Hope for Homeowners plan aimed at increasing participation. (more)

Mortgage rescue or rip off?

Nov 19: Many for-profit companies now offer foreclosure counseling services to at-risk homeowners. Are they worth the price? (more)

Mortgage rescue or rip off?

Nov 19: Many for-profit companies now offer foreclosure counseling services to at-risk homeowners. Are they worth the price? (more)

Builders' confidence sinks to new low

Nov 18: A survey of homebuilders' assessment of the housing market shows the industry's sentiment fell in November to yet another low. (more)

Home prices in record 9% decline

Nov 18: Foreclosures take heavy toll on home prices but bargain hunters are re-entering worst-hit markets. (more)

Who benefits from the new Fannie-Freddie plan

Nov 14: A new housing rescue plan from the administration targets some of the most troubled homeowners. (more)

Mortgage rates down for 2nd week

Nov 13: Freddie Mac cites weakening economy for easing of long-term rates. (more)

85,000 homes lost in October

Nov 13: As government and industry scramble to reverse the tide of foreclosures, filings jumped 25% in October. (more)

Citi to modify $20 billion in home loans

Nov 10: A new program aimed at homeowners who haven't defaulted yet could help 130,000 mortgage borrowers stay in their homes. (more)

September pending home sales fall

Nov 7: The worsening financial crisis stops bargain hunters in their tracks. (more)

Mounting job losses fueling foreclosures

Nov 6: Bad loans were originally the main culprit driving homeowners into foreclosure. But now it's unemployment that's fueling the mortgage meltdown. (more)

Mortgage rates fall

Nov 6: Rates on 30-year fixed-rate mortgages drop to 6.20% from 6.46% and are expected to remain firm. (more)

JPMorgan Chase expands housing rescue plan

Oct 31: The bank will put a moratorium on foreclosures until its new program can be implemented in about 90 days. (more)

7.5 million homeowners 'underwater'

Oct 31: Nearly a fifth of U.S. borrowers owe more on their mortgages than their homes are currently worth - and that number is growing. (more)

Mortgage rates spike to 6.46%

Oct 30: Rates on 30-year fixed mortgages surge to 6.46% from 6.06% on news of Fed rate cut. (more)

Mortgage applications jump 17% on lower rates

Oct 29: Interest rate declines spark a spike in mortgage borrowing. (more)

Home prices see another record plunge

Oct 28: 10 major markets have seen home values fall 17.7% over the past 12 months, and experts expect the declines to continue. (more)

212,000 borrowers avoid foreclosure in Sept.

Oct 27: Foreclosure prevention group Hope Now says it's helped 2.5 million home owners since the start of the housing crisis last summer. (more)

New home sales tick up 2.7%

Oct 27: New home sales show some signs of life, but September sales were still a third lower than year-ago levels. (more)

One failed bank gets the housing fix right

Oct 24: When the FDIC seized mortgage giant IndyMac it was one of the biggest bank failures ever. Now the troubled lender just may lead us out of the housing mess. (more)

Recession hits the country club

Oct 24: As golf courses around the country succumb to debt, one Florida neighborhood is battling to keep its club alive. (more)

Existing home sales jump, prices sink

Oct 24: Sales of homes by homeowners rose in September, but prices declined by 9% from a year earlier. (more)

Mortgage rates fall after last week's spike

Oct 23: Rates on 30-year fixed mortgages fell to 6.04% from 6.46% on news of mild inflation, weak housing market. (more)

Foreclosure filings spike 71%

Oct 23: Third quarter numbers saw a sharp rise compared to last year; in September, 81,312 homes were repossessed by lenders. (more)

'Hope for Homeowners' gets a slow start

Oct 22: The government-rescue program for troubled borrowers launched on Oct. 1, but it's not clear how many workouts have been executed. (more)

Housing starts hit another 17-year low

Oct 17: Home construction and building permits both fall sharply in September to levels not seen since January 1991. (more)

Mortgage rates spike - leap size tops '87

Oct 16: Rates saw the biggest weekly jump since 1987 - analysts predict 30-year fixed mortgage rates will climb higher, and pin the hike on government rescue efforts. (more)

Mortgage rates headed to 7%

Oct 15: The rate on a 30-year fixed mortgage has spiked recently, and it may climb higher thanks to the government's massive rescue efforts. (more)

Home prices may plummet, but taxes won't

Oct 14: Owners who've seen a steep drop in their home's value shouldn't expect to get a break on their property taxes. (more)

Home deals go bust

Oct 10: As the financial crisis intensifies, the few potential buyers out there are reconsidering a purchase. (more)

Mortgage rates slip to 5.94%

Oct 9: Rates on 30-year fixed mortgages were down for the first time in three weeks, as loan applications grew slightly. (more)

BofA to slash mortgage payments

Oct 6: The foreclosure prevention program is the most aggressive initiative undertaken yet to help stem the housing crisis. (more)

NYC real estate: Pricey, headed for a fall

Oct 3: The average sales price in Manhattan continues to climb - it's now $1.4 million - but the number of buyers is falling fast. (more)

Mortgage rates post slight gain

Oct 2: Rates on 30-year mortgages averaged 6.10% this week, as loan applications slow in face of credit crisis. (more)

Housing rescue efforts slowed in August

Oct 2: Nearly 189,000 at risk borrowers got help during the month, according to Hope Now, down slightly from the number of homeowners helped in July. (more)

Crisis puts home loans out of reach

Sep 26: The meltdown on Wall Street is making it even harder for home buyers to land a mortgage loan. (more)

Crisis puts home loans out of reach

Sep 26: The meltdown on Wall Street is making it even harder for home buyers to land a mortgage loan. (more)

New home sales fall to 17-year low

Sep 25: Sales pace of new homes lowest since January 1991 as prices hit a four-year low and inventory remains high. (more)

Existing home sales sink again

Sep 24: Sales of homes by homeowners dropped in August as prices decline by 9.5% from a year earlier. (more)

Home buyers get cold feet

Sep 23: The shocking events over the last two weeks are hurting the already moribund real estate market. (more)

Home buyers: On or off the fence?

Sep 23: The government is bailing as fast as it can to try to stabilize foundering housing markets. How will home buyers respond? (more)

Can't anyone afford my home?

Sep 22: Prices have dropped. A lot. But it's still surprisingly hard to find buyers. (more)

4 Fannie Mae senior execs resign

Sep 20: The troubled mortgage finance giant announces restructuring of organization with more direct reports to CEO. (more)

Why the Fed pulled the trigger on AIG

Sep 17: What did the government get for its $85 billion? Time to try to unwind a company with $1 trillion in assets. (more)

Applications to refinance mortgages surge

Sep 17: Refinance applications jump 88% from prior week as 30-year fixed-rate mortgage drops to 5.82%. (more)

Home values plunge in Southern California

Sep 17: Median home price fell 34% in August from last year, sales up 10% during period but many driven by foreclosures. (more)

Lenders to FHA: Thanks but no thanks for your help

Sep 17: Testifying before Congress, lenders praised the FHA's foreclosure prevention program but indicated that they'd prefer to handle their own mortgage workouts. (more)

White House says AIG rescue key for economy

Sep 17: Bush administration says deal to offer $85 billion in public funds to failing insurance giant was warranted. (more)

WaMu shares end 16% higher

Sep 16: Despite downgrade, S&L's shares rise and recover from a rough open on Wall Street. (more)

Fed in AIG rescue - $85B loan

Sep 16: Government response reaches dramatic new level: U.S. will take 80% stake in nation's largest insurer to prevent global financial chaos. (more)

World markets turn sharply lower on AIG

Sep 15: News of AIG downgrades and Lehman bankruptcy reverberate across the globe, punishing stock markets from Europe to Asia. (more)

WaMu lowered to junk by S&P

Sep 15: Already battered, Washington Mutual shares fall 27% as potential capital sources' attention is diverted. (more)

Banks planning to create lifeline for rivals

Sep 14: With hopes fading about Lehman Brothers' survival, U.S. and foreign banks are in talks to form a pool of up to $50 billion to lend to battered financial firms. (more)

AIG planning big spinoff

Sep 14: Nation's largest insurer will unveil restructuring effort on Monday as company races to raise cash and avoid credit downgrades. (more)

Washington Mutual tries to soothe anxiety

Sep 12: The nation's largest savings and loan says it remains sufficiently capitalized, but two ratings agencies downgrade its debt. Stock falls again Friday. (more)

August foreclosures hit another high

Sep 12: There were 304,000 homes in some stage of default last month, and 91,000 families lost their homes. (more)

Washington Mutual tries to soothe anxiety

Sep 11: The nation's largest savings and loan says it remains sufficiently capitalized but two ratings agencies downgrade WaMu's debt; stock falls again Friday. (more)

Analysts predict housing bottom

Sep 11: A handful of economists and analysts predict the slump will bottom out, and home prices will level off by next summer - advice worth listening to. (more)

Warren Buffett's happy housing story

Sep 11: Berkshire Hathaway subsidiary Clayton homes makes loans to low-income households - and foreclosures have actually dropped. (more)

Where the buck stops with Fannie, Freddie

Sep 10: James Lockhart, a longtime Bush friend, is leading the oversight of newly seized Fannie Mae and Freddie Mac. (more)

Mortgage rates plummet, but borrowers beware

Sep 10: The takeover of Fannie and Freddie may make mortgage borrowing cheaper - but it won't make getting a loan any easier. (more)

Pending home sales retreat

Sep 9: July decline of 3.2%, reversing prior month gain, shows housing market remains in 'malaise.' (more)

Fannie & Freddie: Buying friends in D.C.

Sep 9: The two mortgage finance companies doled out $174-million over the past 10 years to Washington lobbyists, report says. (more)

Paulson changes the rules of the capital game

Sep 8: By taking control of Fannie and Freddie, the Treasury Secretary risks making it harder for other troubled financial firms to raise money. (more)

How plan protects taxpayers

Sep 7: One expert gives Treasury a good grade. A bond guru even says the government could make money. (more)

Men in suits - few answers

Sep 7: Scenes from the 'background briefing' after the government takeover of Fannie Mae and Freddie Mac. (more)

What rescue means for mortgage rates

Sep 7: Bailout of mortgage giants should result in lower mortgage costs and make credit more available. But lending standards will stay tight and risky borrowers will still pay extra fees. (more)

Fannie, Freddie: The biggest losers

Sep 7: Investors in Fannie Mae and Freddie Mac face massive losses when trading opens Monday. (more)

Fannie and Freddie 101

Sep 7: Here's how the two mortgage giants became wards of the federal government. (more)

Lockhart's statement on Fannie, Freddie

Sep 7: Head of new oversight agency details steps to oversee mortgage finance companies. (more)

Paulson's announcement on Fannie, Freddie

Sep 7: Treasury Secretary unveils plan to bolster mortgage backers. (more)

U.S. seizes Fannie and Freddie

Sep 7: Treasury chief Paulson unveils historic government takeover of twin mortgage buyers. Top executives are out. (more)

Rescue cost: The big unknown

Sep 6: A government takeover of Fannie Mae and Freddie Mac can take many forms, and so could the cost to the U.S. Treasury. (more)

Paulson readies the 'bazooka'

Sep 6: Big buyers of Fannie Mae and Freddie Mac debt have been shying away. The Treasury secretary wants to coax them back. (more)

Record 1.2 million homes hit by foreclosure

Sep 5: Loans in foreclosure have doubled over the past year, while delinquency rates continue to soar. (more)

Pick-a-payment loans turn poisonous

Sep 3: Defaults on option ARM mortgages are expected to double in the next two years, driving foreclosure rates even higher. (more)

Homebuyers turn screws on sellers

Aug 29: In this buyer's market, many are taking advantage of sellers' desperation, demanding major home repairs, warranties on appliances, and even tax rebates. (more)

2 million troubled borrowers avoid foreclosure

Aug 27: The Hope Now coalition reports that it completed a record number of mortgage workouts in July - but that was outpaced by the increasing rate of foreclosures. (more)

Housing fix backfires

Aug 27: A new law was supposed to make it easier for buyers in expensive markets to get affordable loans. Instead, rates are going up for everyone. (more)

Problem banks: What you need to know

Aug 26: The FDIC is keeping close tabs on 117 banks. Here are answers to common questions about how the agency IDs troubled banks. (more)

New home sales rise, but grim news lurks

Aug 26: Sales pace of new homes in July grew 2.4%, due to a large downward revision in sales from the previous month. Unadjusted monthly sales fall to 13-year low. (more)

Home prices plummet in a new record

Aug 26: National prices fell 15.4% in past 12 months. Las Vegas was the worst-hit city, while Denver and Boston saw the biggest price increases. (more)

Mortgage fraud still soaring

Aug 26: A crackdown on underwriting has failed to halt an explosion of fraudulent home loans. (more)

Existing home sales rise, but prices still sinking

Aug 25: Sales by homeowners increased more than expected in July, as median prices fell 7% from July 2007. But supplies still rise to a record high, pushing prices even lower. (more)

Housing: Frank talk from Barney Frank

Aug 25: The veteran congressman thinks his new law can help get us out of our housing slump. Meanwhile, he's not shy about saying who got us into it. (more)

These homes for sale suck

Aug 22: Never before have there been so many squalid, dilapidated homes on the market - and they're helping to exaggerate already-plummeting home prices. (more)

IndyMac borrowers to get relief

Aug 20: FDIC offers plan to systematically modify loans for homeowners most at risk of foreclosure. Agency chief hopes program will spur other banks to take similar measures. (more)

Mortgage applications near 8-year low

Aug 20: A drop in the refinancing of existing mortgages spurs a downturn in applications. (more)

Prospects uncertain for Fannie, Freddie

Aug 20: Government rescue may be on the table as the mortgage finance giants struggle with losses. (more)

Builders' confidence holds at record low

Aug 18: A survey of homebuilders' assessment of the housing market shows the industry's sentiment tied the all-time low level set in July. (more)

Beware the $7,500 'tax credit'

Aug 18: The housing rescue credit may prod some new homebuyers. But the money must be repaid, and the program probably won't be enough to jump start housing market. (more)

Fannie, Freddie shares battered

Aug 18: Fannie stock falls 22% and Freddie 25% to near two-decade lows. Media report suggests the Bush administration doubts mortgage giant firms will be able to raise needed capital. (more)

Home prices down 7.6%

Aug 14: Foreclosures drove down prices in the last 12 months, with cities in the Sun Belt leading the decline. (more)

Nation's foreclosure plague widens

Aug 14: More tough times in the housing market: 8% monthly jump in foreclosures and 55% year-over-year. 'Bloated inventory' of homes owned by banks, expert says. (more)

25% of home sales result in loss

Aug 13: Values have fallen so far in many cities that sale prices don't cover what sellers originally paid. That means more hard times before markets recover. (more)

The next wave of mortgage defaults

Aug 12: More borrowers with good credit are defaulting on their home loans, and that's going to make it even harder for the staggering housing market to recover. (more)

SEC formally investigates Countrywide

Aug 8: A filing from Bank of America, the mortgage lender's new parent, shows deeper government scrutiny. (more)

Mortgages get more expensive - again

Aug 8: In wake of huge losses, Fannie Mae announces changes that will make home loans harder and more expensive to obtain. (more)

Home prices drop for fourth straight quarter

But the latest home prices from Realtors show losses seem to be easing. (more)

Latest home prices

Second quarter numbers are in from the National Association of Realtors - 149 markets tracked. (more)

California cities fill top 10 foreclosure list

Stockton, Calif. records highest foreclosure rate among nation's metro areas according to a new survey. (more)

Countrywide forced to turn to banks for help

Leading mortgage lender tightens lending standards, turns to more expensive $11.5 billion line of credit to maintain liquidity; chairman cashing out of stock. (more)

Housing starts at decade low

Starts and permits both fall more than forecasts as builders pull back from troubled market. (more)

Paulson: Market turmoil to slow U.S. growth

But strength of markets, economy should prevent a recession, Treasury Secretary tells Wall Street Journal. (more)

Dems take on mortgage meltdown

Clinton, Dodd, Obama and Edwards take aim at reforming lending practices. (more)

Mortgage meltdown contagion

A grim forecast has economists more pessimistic over how far the collapse will spread to the rest of the economy. (more)

Will the Fed save the day?

Bernanke & Co. did not signal an imminent rate cut at the Fed's last meeting, but some think the Fed will take emergency action as the credit crunch gets worse. (more)

Credit turmoil throws deals in jeopardy

As financing markets seize up, investors are growing more skeptical that some buyout deals will happen. (more)

Who can't get a mortgage now

Buyers with good credit and a down payment will make out well - all others, prepare to pay. (more)

Rate jump for big mortgages

The cost of financing an expensive home purchase is jumping, making high-end buyers the latest victims of the mortgage meltdown. (more)

Subprime problems spread

AIG sees uptick in defaults in more credit categories. European investors feel the pain too. (more)

Mortgage resets: Record bill coming due

Billions in subprime ARMs will be subject to higher payments. (more)

Foreclosures drift to Sun Belt from Rust Belt

A new survey shows foreclosure clusters are on the move from industrial centers to coastal and southern states. (more)

If your mortgage lender goes under...

More and more mortgage companies are closing shop as the subprime loan saga continues. Here's what to do if yours shuts down. (more)

About to retire? It's all about the 'safe money'

If you're on the cusp of retirement and feel rattled by the recent volatility in stocks, here's a way to protect your portfolio (more)

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