The Rollback Economy, Part II

 

A rising tide of mortgage foreclosures shows that demand is weak across the economy.

Related

  • Lenders have helped an increasing number of mortgage borrowers to get current on payments and stay in their homes, but the tide of foreclosures is still rising.

  • The Obama administration Friday announced a US$14-billion effort to try to stem a rising tide of home foreclosures by giving lenders incentives to erase some mortgage debt and slash mortgage payments for the unemployed

  • Wealth Daily submits:As sure as the two cardinals that are perched outside my window, I'm beginning to think that Lawrence Yun could use a lucky rabbit's foot or two. Better yet, maybe he ought to consider spending the day combing through the grass in search of four-leafed clovers...Complete Story »

  • Reuters - The Obama administration on Friday announced a $14 billion effort to try to stem a rising tide of home foreclosures by giving lenders incentives to erase some mortgage debt and slash mortgage payments for the unemployed.

  • The economy was a big part of why Soua Xiong held off buying a new fishing boat for the past couple years. Hoping the worst was over, he was ready to do more than look when he walked into the Rapid Sport Marine showroom.

  • HAM LAKE, Minn. (AP) -- The economy was a big part of why Soua Xiong held off buying a new fishing boat for the past couple years. Hoping the worst was over, he was ready to do more than look when he walked into the Rapid Sport Marine showroom....

  • Home loan demand cooled last week as rising mortgage rates curbed refinancing requests that had soared to a 14-month high, the Mortgage Bankers Association said on Wednesday.

  • China's economy shows signs of improving, with annual growth rates in industrial output and retail sales rising last month, but below analyst forecasts, figures show.

  • Richard Suttmeier submits: The demand for mortgages declined. Bernanke’s exit strategy shows lack of confidence. I wish Treasury Secretary Geithner had an exit strategy as well. We are not out of the woods when it comes to mortgage defaults and foreclosures.

  • Reuters - The U.S. Treasury on Monday set long-awaited guidance on a plan for mortgage companies to speed "short sales" of homes and other loan modification alternatives to stem a rising tide of foreclosures.

 
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