Archive for April, 2008
Keep Talking About Foreclosures, But Home Prices Fall For Other Reasons, Too
This is a chart from RealtyTrac’s Q1 2008 Foreclosure Report. It is misleading. A common conclusion that people make from charts like this is that foreclosures are the cause of falling home prices. That’s false. There may be a relationship…
Read the full post at http://www.themortgagereports.com
Another Loss for Countrywide as Bank of America Plans for Future
Countrywide Financial Corporation logged in on
Tuesday with its third consecutive quarterly loss due to a sharp increase
it its provision for loan losses.
On Tuesday the Nashville Business Journal reported that Bank of
America is planning to modify or otherwise work out some
265,000 Countrywide loans, allowing those customers to stay in their
homes.
The troubled loans that Bank of America has targeted for workout…