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Mortgage relief bill expected to pass (The Columbus Dispatch)
WASHINGTON --When the Senate returns Monday from its Fourth of July recess, members will try again to pass a stalled package of mortgage relief and reform that could have a major impact on homeowners in Ohio, where foreclosures have become a crisis.
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Free Times - Ohio's Premier News, Arts, & Entertainment Weekly (Cleveland Free Times)
Editor's Note: A former account executive for the nearly bankrupt Novastar Financial Inc. and a former mortgage broker at the now-defunct Equity Consultants, an independent mortgage brokerage firm once in Richfield, spoke to the Free Times on the condition of anonymity.
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If terms of home sale change on closing day, you have right to walk away (Newark Advocate)
I am glad some of my readers are listening.
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Housing Rescue Stalls In Senate (CBS News)
A foreclosure rescue plan that has broad bipartisan support stalled in the Senate on Wednesday in a dispute over taxes.
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Home prices spiral into deepening abyss (WDAM-TV Hattiesburg)
The housing crisis is entering a new and frightening stage. On June 24, Standard & Poor's announced that the S&P/Case-Shiller 20-City Home Price Index had fallen more than 15% in April from a year earlier.
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The Housing Abyss (BusinessWeek Online via Yahoo! News)
The housing crisis is entering a new and frightening stage. On June 24, Standard & Poor's announced that the S&P/Case-Shiller 20-City Home Price Index had fallen more than 15% in April from a year earlier. Adjusted for inflation, the decline is the biggest since 1940-42, according to data collected by Yale University economist Robert Shiller.
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Senate may pass mortgage aid plan as soon as today (Boston Globe)
A mortgage aid plan is on track for passage in the Senate as soon as today. The massive foreclosure rescue bill cleared a key Senate test yesterday by an overwhelming margin, with Democrats and Republicans both eager to claim election-year credit for helping hard-pressed homeowners.
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Home loans confuse, distress buyers (Corpus Christi Caller-Times)
Though foreclosure rates in Corpus Christi remain far below that of the state and the nation, the number of foreclosures doubled between 2005 and 2007
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Falling Home Prices Spiral Into Deepening Abyss (WTOL 11 Toledo)
Housing prices have declined 15 percent in the last year, but the worst may be yet to come as forces battering the market gain strength. And the remedy coming from Congress is likely to fall short of the mark.
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Scandal fuels housing bill opposition (Politico via Yahoo! News)
Conservatives have long opposed the housing bill as a bailout for “irresponsible” lenders and borrowers.
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