Sam Molinaro, Bear Stearns chief financial officer, expects to write down 1.2 billion dollars in assets linked to mortgages in the fourth quarter of this year, but expects the worst of the bank’s writedowns are over.
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Are minorities across the nation a target of mortgage loan discrimination? If this story from the Boston Globe is any indication, it looks like it.
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The escalating Massachusetts mortgage crisis is expected to further depress house sales and prices in the state during the fall selling season, as some potential buyers’ loan applications are rejected or buyers delay making a purchase to see whether prices fall farther.
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Patricia Ortiz and her husband Sebastian of Billerica, Mass., cut back on dining out, nights out at the movies, and even opted for a civil wedding ceremony instead of a big affair so they could afford a mortgage to buy a $389,000 three-bedroom colonial.
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With problems regarding home loans continuing to pile up, certain states are taking matters into their own hands in order to protect consumers.
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The Massachusetts housing market is in a slump across the state, but according to statistics released by the Warren Group, the effects of the softening market are particularly strong in some local communities.
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Hopes for a spring turnaround in the slumping Massachusetts housing market haven’t panned out, with May home sales declining sharply.
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Even with the downturn in the Masschusetts housing market, houses in Boston will continue to be unaffordable for many working families and first-time buyers, according to a new report from Harvard University’s Joint Center for Housing Studies.
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A Rhode Island lawyer claims he has found a chink in the legal armor of bad credit mortgage loan giant Ameriquest, one that could give hundreds of thousands of owners grounds to wriggle out of their loans.
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Maybe the housing slump isn’t over yet after all.
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