By Kevin Chiu Despite the enormous financial damage it would do to the U.S. economy, Americans are divided over whether the record flood of foreclosures should be halted. That’s the stunning conclusion derived from the latest Housing Predictor poll. With foreclosures at all-time record levels, a divide has grown over the foreclosure crisis like perhaps… Continue reading Americans Divided Over Halting Foreclosures
Category: Wall Street
Home Prices Decline Less in Hardest Hit Markets
By Mike Colpitts Where home prices are still declining they are deflating at a slower rate for the second year in a row, a new Housing Predictor survey has found. The hardest hit markets in the nation, including places in California, Nevada, Arizona, Rhode Island and Florida are experiencing less deflation than in early 2010.… Continue reading Home Prices Decline Less in Hardest Hit Markets
Federal Housing Agency Orders Halt to Home Resale Fees
By Mike Colpitts U.S. mortgage giants Freddie Mac and Fannie Mae will be halted from providing mortgages on homes that hold home resale fees under a new federal mandate. The decision, ordered by the Federal Housing Finance Agency, which oversees both government backed lenders, was ordered late Tuesday. It was contained in a proposal made… Continue reading Federal Housing Agency Orders Halt to Home Resale Fees
Housing Resale Fees Next Wall Street Rip-Off
A coalition of real estate related companies have launched an effort to stop a 1% home resale fee added to some new home developments being offered by a Manhattan based financial firm by sending a letter to U.S. Treasury Secretary Tim Geithner. The effort was revealed during a news conference with reporters, which included the… Continue reading Housing Resale Fees Next Wall Street Rip-Off
SEC Busts Wall Street Firm in Real Estate Collapse
Under new leadership the Security and Exchange Commission (SEC) charged a Wall Street firm and three affiliated companies with fraudulently managing investments tied to the real estate collapse. The investments were marketed as a way to raise income to insure home mortgages in the risky days before the U.S. economy nearly collapsed. The asset manager… Continue reading SEC Busts Wall Street Firm in Real Estate Collapse