A year ago, New Jersey contractor Michael Mroz’s customers were focused on saving money when renovating kitchens and baths, he said. Now, with a resurgence of home equity lending, they’re ready to pay for the best.
Bank of America Corp., Wells Fargo & Co. and three other banks that settled a nationwide probe of foreclosure practices this month will get a bonus from the deal: protection for $308 billion of home-equity loans they hold.
Robert Shiller, who predicted the collapse of the U.S. housing market, is warning that a bubble is emerging in Brazil at a time when a sluggish economy and persistent inflation are eroding investor confidence.
Budapest hairdresser Gyongyver Peter, whose Swiss-franc mortgage payments have risen to equal her husband’s entire salary in the last four years, is skeptical the Hungarian government can help her after three previous efforts fell short.
Beyond the bright prospects for the return to rapid U.S. economic growth and the resulting decline in federal debt as a percentage of gross domestic product, the U.S. will enjoy six major long-term advantages over its competitors.
Freddie Mac failed to go after foreclosed homeowners who owed more than $4.6 billion on their government-guaranteed loans, passing up the chance to seize second homes and cars from people who defaulted on their mortgage payments.