Housing Bubble News - Articles - Zimbio

NC bill to help subprime loans avoid foreclosure - Bizjournals.com

Thu, 18 Jul 2008 13:38:30 GMT

posted by droekle

NC bill to help subprime loans avoid foreclosure
Bizjournals.com, NC - 1 hour ago
The bill requires mortgage servicers to give at least 45 days notice before they start foreclosure proceedings on subprime loans. Notice also must be filed …
States battle mortgage foreclosure threat USA Today
NC legislators approve emergency mortgage plan WLOS
all 22 news articles

Legislature passes bill to help subprime loans avoid foreclosure - Bizjournals.com

Wed, 17 Jul 2008 21:08:42 GMT

posted by droekle

Legislature passes bill to help subprime loans avoid foreclosure
Bizjournals.com, NC - 42 minutes ago
The bill requires mortgage servicers to give at least 45 days notice before they start foreclosure proceedings on subprime loans. Notice also must be filed …

IS OUR MARKET STABILIZING?

Tue, 23 Jul 2008 17:45:00 GMT

posted by dcpblog
According to the Office of Federal Housing Enterprise Oversight, the Pacific Division -- which includes Hawaii, Alaska, Washington, Oregon and California -- saw a price increase in May of 0.3%, its first price jump since March 2007.

"It is very hard to draw conclusions from a one-month number, especially in these uncertain times; but the numbers in the Pacific, East and West North Central Divisions may be good signs," Ofheo Director James B. Lockhart said in a statement.

Ofheo's monthly index is based on the purchase prices of houses backing mortgages that have been purchased or guaranteed by Fannie Mae and Freddie Mac.

TRUTH IN LENDING PROVISIONS

Tue, 16 Jul 2008 17:28:00 GMT

posted by dcpblog
The final rule amending the Home Mortgage Provisions of Regulation Z, Truth in Lending, establishes a new category of "higher-priced mortgages" that includes virtually all closed-end subprime loans secured by a consumer's principal dwelling. The new rule, in part, prohibits lenders from loaning money without regards to borrowers ability to repay the loan.
The rule's definition of "higher-priced mortgage loans" will capture virtually all loans in the subprime market, but generally exclude loans in the prime market.

WHAT HAPPENED?

Mon, 22 Jul 2008 05:34:00 GMT

posted by dcpblog
Two books published of late are: Chain of Blame By Paul Muolo and Mathew Padilla (Wiley, 338 pages, $27.95) and Financial Shock By Mark Zandi (FT Press, 243 pages, $24.99). Both books discuss what happened to the housing market and our country's financial status. There's a great article in the the Wall Street Journal that gives insight to the situation.