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Real Estate Wire: Latest housing news
Repossessed properties will soon account for more than half of all sales, experts predict.
REAL ESTATE
Low prices and interest rates push some buyers off the fence. Experts warn of another wave of foreclosures.
Daniel Mudd and Richard Syron, who are stepping down, have already made millions at the troubled mortgage giants and are expected to take away millions more.
Treasury Secretary Henry Paulson says stabilizing the firms is crucial to ending housing turmoil. The plan calls for billions in capital injections.
$1 billion
Initial U.S. investment in each firmSome advocate a bankruptcy-style solution, others a big infusion of cash. He's looking for middle ground to address the mortgage giants' crisis.
Paulson discusses a rescue plan with the mortgage giants' chiefs, who may have to step down, sources say.
The year-over-year increase, spurred by falling prices and foreclosures, is the first since September 2005. Los Angeles County sees a slight drop in sales.
MONEY TALK
Dear Liz: I sold my house for less than what I owed on the mortgage, not realizing that this short sale would affect my credit scores. Because of this drop in scores, I recently received a letter from my credit card company closing one of my unused accounts.
Some depositors at the failed thrift, seized by regulators, leave without all of the funds that were in their accounts. Bank shares slide, but institutions say they are well-capitalized.
Both dropped last month, convincing some analysts that the housing downturn will keep dragging on.