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Arizonans brace for summer mortgage resets (The Arizona Republic)
The number of adjustable-rate mortgage resets is expected to peak this month in Arizona.
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Obama received lower-interest loan for mansion (Los Angeles Times)
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Homeowners find loan aid is limited (San Diego Union-Tribune)
Lenders and loan-servicing companies say foreclosing on distressed homeowners is the last thing they want to do. Federal Reserve Chairman Ben Bernanke has urged them to modify loan terms instead of going through the costly process of evicting homeowners and reselling their dwellings.
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U.S. MBA's Mortgage Applications Index Fell 8.8% (Update1) (Bloomberg.com)
June 18 (Bloomberg) -- Mortgage applications in the U.S. declined last week, led by a slump in refinancing as borrowing costs surged. The Mortgage Bankers Association's index of applications to purchase a home or refinance a loan fell 8.8 percent to 507.9 from 557.1 the prior week.
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Business news in brief (Philly.com)
Several consumer groups and a labor union that represents health-care workers want the state of Pennsylvania to appoint an independent consumer advocate to participate in a review of the proposed merger of the state's two largest health insurers.
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Housing Crisis Likely To Last All Summer (CBS News)
The number of U.S. homeowners swept up in the housing crisis rose further last month, with foreclosure filings up nearly 50 percent compared with a year earlier, a foreclosure listing company said.
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U.S. foreclosure filings in U.S. surge in May (Courier-Post)
Soaring foreclosures are continuing to raise questions about the mortgage industry's claims that lenders are making a dent in the housing crisis.
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N.C. foreclosures surge nearly 15 percent in May as national rate also soars (WRAL.com Raleigh)
Across U.S., foreclosure actions set a record for second straight month. N.C. rate is up 23 percent from a year earlier.
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US Foreclosure Filings Up 48% in May (Time Magazine)
Soaring foreclosures are continuing to raise questions about the mortgage industry's claims that they are making a dent in the housing crisis
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US Foreclosure Filings Up 48 Percent in May (The Memphis Daily News)
WASHINGTON (AP) – The number of U.S. homeowners swept up in the housing crisis rose further last month, with foreclosure filings up nearly 50 percent ....
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