Mortgage refinancing has been at its lowest level since December, and policymakers have been hoping refinancing could help end the crisis in the financial markets. Jeremy Hobson reports.
This morning, we'll find out how many new homes were built last month, and investors are hoping housing starts have finally bottomed out. But Jeremy Hobson reports we might see a weak number that won't rebound until summer.
Once one of the top investment banks on Wall Street, Bear Stearns was offered a mere $2 a share in a bailout deal offered by JP Morgan. Janet Babin reports on how the subprime crisis may have triggered the bank's dramatic fall.
A coalition of community organizations wants the federal government to buy up troubled mortgages from banks at a discounted rate to take pressure off of homeowners. Sam Eaton reports on how this could affect the bottom line.
The FBI and Justice Department are investigating Countrywide to see if it misrepresented its financial position and the quality of the loans it made. But Nancy Marshall Genzer reports Bank of America is still planning to take over.
How do you buy a house when your religion bars you from paying interest? Tess Vigeland visited the Zerroug family to learn how they structured the purchase of their Pasadena, Calif., home.
Chief executives from three top mortgage lenders hit by the subprime mortgage crisis went before a congressional panel to answer lawmakers' questions on how they were able to earn hundreds of millions of dollars while their companies were bleeding money. John Dimsdale reports.
Many homeless patients in Los Angeles hospitals aren't discharged in a timely manner because they have nowhere to go to recuperate. Jeff Tyler reports a new program is trying to address the problem.
Commentator and economist Glenn Hubbard says that to fix the housing crisis we must give the Federal Housing Administration more authority. He believes it should offer new loans to subprime mortgage holders so they can refinance.
The Hope Now Alliance has modified about 150,000 subprime loans since the federal mortgage program's inception. Tess Vigeland speaks with Treasury Secretary Henry Paulson about the program and other government efforts to fix the mortgage crisis.
