Shaky loans on lenders’ books are rising at a faster pace than the reserves that banks are setting aside to cover potential losses. In Illinois, 45 percent of banks and thrifts with non-performing loans don’t have enough reserves to cover those Read More

When Congress started fashioning a sweeping rescue package for struggling homeowners earlier this year, 2.6 million loans were in trouble. But the problem has grown considerably in just six months and is continuing to worsen. More than three million Read More

Shareholders of Countrywide Financial have voted for Bank of America ’s estimated $3 billion takeover of the struggling mortgage company. Many analysts and investors publicly wonder why Bank of America would buy the troubled mortgage lender, which Read More

This entry was posted on Sunday, June 29th, 2008 at 5:33 am and is filed under Mortgages. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.