Strong report on home sales
New home sales fell in June, the government said Friday, but the annual rate was stronger than economists expected.

New home sales fell in June, the government said Friday, but the annual rate was stronger than economists expected.
The Senate on Saturday overwhelmingly passed a landmark housing bill that will offer up to $300 billion in loans for troubled homeowners and establish a government rescue plan for mortgage finance giants Fannie Mae and Freddie Mac.
First Bank named David Austin as Florida regional president, responsible for corporate relationship management. (BAC)
Another Mortgages Ltd. borrower filed a motion July 24 in U.S. Bankruptcy Court requesting that a Chapter 11 trustee be appointed to the case. The filing claims that new attorneys and leadership assigned and hired to represent the local commercial real estate lender cannot adequately consider the interest of all parties involved.
Foreclosure filings were up nearly 121 percent in the second quarter nationwide compared with the previous year’s second quarter, and increased nearly 14 percent from the first quarter of 2008, according to RealtyTrac’s Q2 2008 U.S. Foreclosure Market Report.
A key House committee was set to grill home lenders and housing advocates on Friday about mortgage industry efforts to work out affordable loans for troubled homeowners.
It’s a tough market for selling a house. Maximize your chances of a sale at a good price with these house-staging tips from an expert.
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Foreclosures continue to soar, with 220,000 homes lost to bank repossessions in the second quarter of this year, according to the latest statistics from RealtyTrac, an online marketer of foreclosed homes. That’s nearly triple the number from the same period in 2007.
The percentage of vacant homes available for sale remained relatively flat in the second quarter, but still hovered in record territory.
David Armijo, chief executive officer of the Hillsborough Area Regional Transit, was elected to serve on the Conference of Minority Transportation Officers' board of directors for a two-year term.
Metro’s Office of Customer Service and MetroAccess Services will relocate to Hyattsville from Silver Spring next year.
Sales of existing homes in June slowed more than expected and hit their lowest level in 10 years, according to an industry trade group report released on Thursday.
Rates on 30-year mortgages rose for the third consecutive week amid concerns about mounting inflation, the weak housing market and speculation that the Federal Reserve will hike interest rates soon.
Eastland Mall owner Glimcher Realty Trust is walking away from shopping center after three years of trying to sell it.
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The House on Wednesday passed a $300 billion housing rescue bill aimed at helping troubled homeowners avoid foreclosure and supporting mortgage giants Fannie Mae and Freddie Mac.
Mortgage brokers and loan officers are getting paid fat fees by lenders to put unsuspecting borrowers into expensive loans. And the new lending rules issued last week by the Federal Reserve do nothing to stop this abusive practice.
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Are you ready to buy a house in this crazy market? Better bring a boatload of money to the closing.
National Retail Development Partners received an $11.5 million loan from Kennedy Funding Inc., a direct lending company out of Hackensack, N.J., for a mixed-use office and retail complex in Scottsdale to be called Ironwood Festival.
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