Housing Rescue

Housing Rescue

• House Passes Rescue Package

  Worried about Fannie and Freddie, the White House says it will not veto housing rescue legislation, despite reservations about the bill.

• Experts: New Lending Rules Will Have Little Short-Term Impact on Builders

  Many lenders have already tightened standards because of the housing slump and rising foreclosures.

• Builder Sentiment Hits New Low in July

  NAHB renews call for first-time home buyer tax credit.

• Housing Bill Stalled Again?

  Politicians start wrangling over Treasury plan to shore up GSEs at a terrible time for builders.

• Fed Moves to Protect Borrowers

  New mortgage lending rules will require lenders to verify income and assets and avoid misleading advertisements.

• Down-Payment Assistance Debate Begins Again

  At stake is builders' access to a segment of the first-time and first-time move-up home market of buyers that would otherwise not qualify for conventional mortgage financing.

• Government Bolsters Freddie, Fannie

  Treasury, Federal Reserve tell investors they will stand behind GSEs.

• Mortgage Lender IndyMac Shuts Doors

  Bank reopens today under federal management; customers withdrawing their funds.

• Fannie and Freddie at Risk?

  Worries about the GSEs' financial exposure and housing markets set off a frenzy of worry between Washington and Wall Street.

• Housing Rescue Legislation Moves Forward

  Senators could vote this week on their version of bill.

• Lobbyist for Big Builders Says Tax Carry-Back Not Dead

  A number of senators say they support the net-operating loss carry-back provision.

• Housing Rescue Bill Moves Forward

• Senators Reach Agreement on Housing Bill

  Proposed legislation includes foreclosure prevention and reform for Fannie Mae and Freddie Mac.

• Kimball Hill Gets Court's Approval

  One day after officially filing a petition for Chapter 11 in the U.S. Bankruptcy Court for the Northern District of Illinois, executives of Kimball Hill Homes received court approval for all of the company’s first day motions. Taken together, the approvals allow the company to continue normal...

• Housing Bill Update

  White House proposes expanding FHA program to help homeowners avoid foreclosure.

• On the Fence

  Housing industry watchers are relieved to see the Senate taking action on housing, but are unsure about some aspects.

• Help at Last

  Senate agrees to throw housing market a lifesaver.

• HUD Secretary Resigns

  Alphonso Jackson ends four tumultuous years under investigation for conflicts of interest.

• Consumers Think Recession Has Already Happened

  High gas and food prices, declining home values, and job market cited as causes.

• Bankrupt Trend Gets Finance Approval

  Trend Homes received approval for a long-term cash collateral plan designed to support the company’s operations during Chapter 11.