Loans

Loans

• Fannie Mae seeks $15 bln in US aid after 3Q loss

  WASHINGTON - Fannie Mae is asking for an additional $15 billion in government aid after posting another big loss in the third quarter as the taxpayer bill from the housing market bust keeps rising.

   

• BofA says credit environment remains difficult

  CHARLOTTE, N.C. - Bank of America Corp. on Thursday reiterated that the current credit environment will remain difficult into next year, as unemployment is likely to continue to rise.

   

• Looking for land in all the right places

  LOS ANGELES - The housing bust left homebuilders with plenty of red ink on their books as they walked away from swaths of land they no longer needed.

   

• Congress votes for more aid to jobless, homebuyers

  WASHINGTON - Congress took further steps to right the staggering economy by expanding a popular tax credit for homebuyers and extending unemployment checks for the growing legions of people running out of benefits with few job prospects.

   

• Congress giving homebuyers a $6,500 tax break

  WASHINGTON - Buying a home is about to get cheaper for a whole new crop of homebuyers - $6,500 cheaper.

   

• Senate acts to extend aid for jobless, homebuyers

  WASHINGTON - Recognizing that a weak economy still needs a government boost, the Senate voted overwhelmingly Wednesday to provide the jobless with up to 20 weeks in additional unemployment benefits and expand a first-time homebuyer tax credit to include a far larger pool of people entering the...

   

• US stock futures higher ahead of Fed decision

  NEW YORK - Stock futures are indicating a higher opening Wednesday on Wall Street as investors await the Federal Reserve's latest assessment of the economy.

   

• North Carolina Proposal Could Forestall Foreclosures

  Nov. 4--North Carolina homeowners would be able to forestall foreclosure by asking their mortgage servicer for assistance if proposed rules from a state regulatory agency are approved.

   

• Goldman left foreign investors holding the subprime bag

  Nov. 3--NEW YORK -- Inside the thick Goldman Sachs investment circular were the details of a secret, $2 billion deal channeled through a Caribbean tax haven.

   

• Local agents optimistic as housing market brightens

  Nov. 3--The phones are ringing.

   

• Builders Urge Tax Credit for Illinois Home Buyers

  Nov. 3--PEORIA -- A dramatic drop-off in the construction of new houses in the state is the reason behind a new tax credit proposal for Illinois.

   

• Hovnanian Enterprises adds chairman to CEO's roles

  RED BANK, N.J. - Homebuilder Hovnanian Enterprises Inc. on Wednesday said its board gave President and CEO Ara K. Hovnanian the additional title of chairman.

   

• Builders Applaud Tax Credit Work, Hope For Extension

  Nov. 2--As lawmakers look at extending the federal first-time homebuyer tax credit, some local builders are applauding.

   

• September pending home sales rise 6.1 percent

  WASHINGTON - The volume of signed contracts to buy previously occupied homes rose for the eighth straight month in September as buyers scrambled to take advantage of a tax credit for first-time owners that expires at the end of this month.

   

• AP analysis: Hardest-hit areas recovering slowly

  The economic recovery is proceeding unevenly in its early stages, with areas hurt most by the housing slump still lagging behind other regions, according to The Associated Press' monthly analysis of economic stress in more than 3,100 U.S. counties.

   

• Banks, Collection Firms Pursue Claims After Homes Foreclosed

  The $550,000 that Lane's home fetched at auction covered most of his $650,000 first mortgage, but none of his $200,000 second mortgage -- and the second lender wants its money.

   

• Developer Starts Work On $25 Million Apartment Complex in Minneapolis' Mill District

  Nov. 2--A Michigan developer broke ground last week on a $25 million, 175-unit apartment complex that fills the last hole in the city's historic Mill District near the Mississippi River.

   

• Fed to Hold Foreclosure Meeting in Brockton

  Hundreds of pained Brockton residents will press federal officials tonight to help beleaguered homeowners in the City of Champions, which has been pummeled by the mortgage foreclosure crisis.

   

• Builder's Clients Left Holding Bag

  BROKEN ARROW -- About five months ago, Rich Farquhar was planning to build his dream home.

   

• New-Homeowner Tax Credit Wins Praise, but Should It Be Extended?

  Oct. 29--BLOOMINGTON -- Brock Westbrook was about ready to give up on finding his first home last fall, frustrated after not finding the perfect fit and not too eager about being financially strapped afterward.