Posts Tagged ‘home’

Ally mortgage unit files bankruptcy

Diane Alter – Fourth Estate Cooperative Reporter Midvale, Utah, United States (4E) – Ally Financial ResCap mortgage on Monday filed for prepackaged bankruptcy protection. The bank, owned by taxpayers, said the filing will allow the bank to take another step to repay the U.S. treasury. Ally’s ResCap unit operates under the GMAC Mortgage brand. At [...]

Short sales up in housing market

Diane Alter – AHN News Reporter New York City, NY, United States (AHN) – Short sales out paced foreclosures in 12 states in January, market research form Realty Trac reported Friday. The increase highlights that more homeowners are finding an easier way out of a distressed home loans with short sales, and that more lenders [...]

Short sales up in housing market

Diane Alter – AHN News Reporter New York City, NY, United States (AHN) – Short sales out paced foreclosures in 12 states in January, market research form Realty Trac reported Friday. The increase highlights that more homeowners are finding an easier way out of a distressed home loans with short sales, and that more lenders [...]

Foreclosures make up 24 percent of sold homes

Diane Alter – AHN News Reporter New York, NY, United States (AHN) – Homes in some stage of foreclosure accounted for nearly one in four home sales in the fourth quarter of 2011, according to a report released Thursday by RealtyTrac. During the three month period that ended Dec. 31, homes that were either bank [...]

Antawn Jamison nets 15 points, Cavs knock off Knicks

AHN Sports Staff Cleveland, OH, United States (AHN Sports) – Antawn Jamison scored 15 points, while Omri Casspi and Anthony Parker added 13 each as the Cleveland Cavaliers knocked off the New York Knicks 91-81 Wednesday at Quicken Loans Arena. Anderson Varejao had the best all-around game for the Cavs, with 10 points and 16 [...]

Bank of America to settle Countrywide discrimination suit for $335 million

Matthew Borghese – AHN News Contributor Washington, DC, United States (AHN) – Bank of America (BoA) will settle a dispute with the U.S. Justice Department stemming from home loan discrimination. Authorities say BoA’s Countrywide unit discriminated against 200,000 African-American and Hispanic borrowers who qualified for prime loans but were nonetheless pushed to sign riskier subprime [...]

SEC charges former Freddie and Fannie execs with fraud

Diane Alter – AHN News Reporter Washington, D.C., United States (AHN) – The Securities and Exchange Commission on Friday charged six former executives of Fannie Mae and Freddie Mac with securities fraud for misrepresenting the holdings of their high-risk mortgage loans. Targeted were three former execs of Freddie Mac, including CEO Daniel Mudd, chief risk [...]

Debt woes come back to haunt Dubai

The Media Line Staff Dubai, United Arab Emirates David Rosenberg (The Medi – More than two years after one of its showcase companies announced a “standstill” on its loan repayments, signaling the end of a real estate-fueled boom, a mountain of debt continues to cast a long shadow over Dubai’s economy. Moody’s Investors Service brought [...]

Cuban economic reform allows private home sales

Tom Ramstack – AHN News Legal Correspondent Havana, Cuba (AHN) – The Cuban government made a move this week to cast off its hard line communist policies with an announcement that its citizens can now buy and sell real estate. Until now, Cubans were allowed only to barter their homes for other homes of equal [...]

Mideast faces shortfall of affordable homes

The Media Line Staff Cairo, Egypt David Rosenberg – The Middle East and North Africa (MENA) faces a shortfall of some 3.6 million units of affordable housing over the next five years unless the region’s governments and property developers make a combined effort to solve the problem, warns a report by the global real estate [...]

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