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The Federal Reserve will issue new rules next week aimed at protecting future homebuyers from dubious lending practices, its most sweeping response to a housing crisis that has propelled foreclosures to record highs.
Faced with record-high foreclosure rates, the Bush administration has been scrambling to keep people from losing their homes, but many are beyond help, Treasury Secretary Henry Paulson said Tuesday.
Shares of mortgage financiers Fannie Mae and Freddie Mac bounced back Tuesday, a day after plunging over worries the pair might need billions of dollars in new capital if a new accounting rule is put into effect.
A mortgage rescue plan to save hundreds of thousands of homeowners from foreclosure drew overwhelming Senate support, inching toward passage despite Republican objections.
Mortgage lender IndyMac Bancorp Inc., struggling to raise capital to stay in business, said Monday it has stopped accepting new loan submissions in its main mortgage lending divisions and plans to slash 3,800 jobs, or more than half of its work force.
My husband and I were living in a small, but cheap, apartment in a great part of the city when we were expecting our first child. Little debt, owned our car outright, with savings in the bank, good credit, good jobs, and a bright future.
Home foreclosures will keep rising next year no matter who is elected president in November.
Visitors to the European Art Gallery are encouraged to touch the art. Three-dimensional works by artist Irmaly Brackin combine layers of resin, enamel, glass and metallic acrylics, framed in glass beads and marbles. The granddaughter of the famous German expressionist painter Hans Grohs, Brackin creates art that is sophisticated and full of texture and depth.
During the height of the real estate boom, it was not only possible to buy a home with little cash and less-than-ideal credit, but with soaring real estate prices, it was easy to refinance as well.
Q: I just moved to Miami and I need to get acquainted with all the health hazards my 6-month-old mutt Fuzz and my 8-year-old cat Zoolander might encounter. I've been told to be careful about taking Fuzz out since he looks a little like a pit bull, and I hear that lizards are a big deal for cats who eat them. And what is this I hear about poison frogs?
Fed plans new rules to protect future homebuyers