Fed's Lockhart: US Economy Remains Very Weak, Uncertain
EasyBourse.com, France
By Michael S. Derby Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- The US economy could be on the mend by the summer, a top Federal Reserve official said Thursday. "The economy is still very weak, but there are some encouraging signs that support ...

US midday: Stocks move ahead
ShareCast, UK
In other economic news, foreclosure filings jumped 24% in March to 803489 compared to a year ago. Housing starts dropped to a seasonally adjusted rate of 510000 in March from 572000 in February, revised down from 583000. Building permits fell to a ...

Experts say consumers are unlikely to see their area mall disappear after General Growth Properties, the second-largest mall owner in the country, filed for bankruptcy Thursday.

The Obama administration's loan modification program is finally underway.

Initial construction of U.S. homes fell more than expected in March, sinking to the second lowest level on record, according to a government report released Thursday.

Foreclosure activity skyrocketed in March and the first quarter of 2008 to their highest levels on record as banks lifted moratoria on filings.

In a strong sign that the housing market may be picking up, builder confidence in April made its most dramatic increase in nearly seven years, according to an industry report.

Read full story for latest details.

Some new perspectives on life here after trip to US
Canada.com, Canada
What's interesting - and probably one of the things that allows them to afford mortgage and taxes - is they don't own a car. While there, I learned firsthand how to use the EL and the buses. What a transit system! Chicago never destroyed its electric ...

MAIL COMMENT: These greedy bankers have learnt nothing
Daily Mail, UK
Anarchists have seized on the credit crunch to try to stir up an international revolt against capitalism. Goldman Sachs seems determined to do their work for them. Every day it becomes clearer that the Prime Minister is incapable of accepting ...

Notices of default up but foreclosure sales down in March
San Jose Mercury News,  USA
By Pete Carey The march from missed mortgage payment to the auction block grew noticeably slower in Santa Clara County last month, as banks filed a record number of default notices but put far fewer homes up for sale. Lenders sent out 1556 notices of ...

Local March home sales up over February
Bloomington Pantagraph,  USA
However, Christensen added that the new $8000 tax credit for first-time home buyers is “absolutely having an impact,” as are low mortgage rates. Meanwhile, the total value of the 156 properties closed on during March was $23.4 million, up from $17.5 ...

First Time Homebuyers
MyFox Memphis, TN
"The best thing anyone can do is contact a local mortgage lender and find out if they can qualify for a new home purchase, if they're not quite ready they still have time to get ready ," says Chambliss. Lamb says she and her husband watched the market ...

Wells Fargo Investors Await Details
TheStreet.com
The question takes on special importance, due to a foreclosure moratorium proposed by the Obama administration and agreed to by Wells, Bank of America (BAC Quote), JPMorgan Chase (JPM Quote), Citigroup (C Quote), Morgan Stanley (MS Quote), Fannie Mae ...

Bernstein Litowitz Berger & Grossmann LLP Announces Filing of ...
eMediaWorld.com Newswire Press Release Distribution Service (press release), AZ
The Certificates were supported by pools of mortgage loans. According to the complaint, the Registration Statements and their respective Prospectuses and Prospectus Supplements (the "Offering Documents") included false statements and/or omissions ...

Napoli Bern Ripka, LLP Files More Claims Against Charles Schwab ...
MarketWatch (press release)
On August 20, 2008, Miriam Sjobom, a Morningstar analyst referred to the Fund as "an unmitigated disaster," noting "although it's designed to be one of the more reliable holdings in a portfolio, its sizable stakes in nonagency mortgage- and ...

Small Commercial Mortgages
WebWire (press release), GA
UnBankableCommercialLoans.com, “Many people are under the impression that, due to problems in the residential mortgage and credit markets, there is a problem in getting a conventional small commercial mortgage, an SBA business loan or Veterans business ...

Stats show crunch severity
WA today, Australia
THE Bureau of Statistics has confirmed the severity of the credit crunch on business, reporting that banks in February cut the supply of commercial credit by almost half from a year ago. Figures show that in seasonally adjusted terms, the banks gave ...

Ivette Castillo thought buying a home at a time like this was out of the question. But when a friend told her there were great deals to be had in Miami, Castillo decided to test the waters.

No state has been harder hit by the housing bust than California.