AP - The CEO of Hovnanian Enterprises Inc. said a modest surge in foreclosures this year wouldn’t have a devastating effect on the homebuilder’s sales.
option-arms's tag archives
Hovnanian CEO: Glut of unsold homes easing (AP)
Foreclosures at record high in first half 2009 despite aid (Reuters)
Reuters - U.S. home foreclosure activity galloped to a record in the first half of the year, overwhelming broad efforts to remedy failing loans while job losses escalated.
Foreclosures at record high in first half 2009 despite aid (Reuters)
Reuters - U.S. home foreclosure activity galloped to a record in the first half of the year, overwhelming broad efforts to remedy failing loans while job losses escalated.
Option ARM Loans Turn into Nightmares (BusinessWeek Online)
BusinessWeek Online - Entrepreneur Michael Bissell worries about losing his business, his house, or both. His 10-year-old Web design firm in Portland, Ore., is struggling as customers fall behind on their bills. To cover salary and other expenses, Bissell tapped into his home last year for extra cash, relying on his exotic mortgage, which gives him the option to pay less than the monthly interest and principal for a while
Good News: Option ARM Resets Delayed (BusinessWeek Online)
BusinessWeek Online - Finally, there might be some good news for struggling homeowners. Thousands of mortgage loans that were supposed to reset at a higher rate this spring won’t be changing, putting off the grim threat of foreclosure or bankruptcy for many Americans by as much as a year. Unfortunately, the reprieve will only be a temporary one.
Lawsuits accelerate amid U.S. housing crisis (Reuters)
Reuters - The U.S. housing crisis has caused huge loan losses at big lenders but also spawned a slew of class-action lawsuits against them, many alleging noncompliance with consumer disclosure rules.
The Man They Can Bank On (Investor’s Business Daily)
Investor’s Business Daily - It was more than four years ago that John Stumpf, then chief operating officer of Wells Fargo , grew leery of the booming housing market.
2009 Real Estate Forecast: Troubles Spread (BusinessWeek Online)
BusinessWeek Online - 2008 was the year that subprime borrowers and speculators got hurt by the real estate crisis.
2009 Real Estate Forecast: Troubles Spread (BusinessWeek Online)
BusinessWeek Online - 2008 was the year that subprime borrowers and speculators got hurt by the real estate crisis. 2009 could be when everyone else gets hit.
Flexible Loans Loom As Foreclosure Threat (Investor’s Business Daily)
Investor’s Business Daily - After a deluge of mortgage defaults, the proverbial perfect storm is building.
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