Federal Reserve Chairman Ben Bernanke called for mortgage lenders to help defaulting homeowners by reducing the principal they owe on their mortgages. John Dimsdale reports banks are reluctant to follow the advice.
Federal regulators for the mortgage securitizers Fannie Mae and Freddie Mac are lifting restrictions on the growth of their mortgage holdings. The caps had been put in place as a response to accounting errors in both companies. Nancy Marshall Genzer reports.
Construction went from being a leading contributor to employment growth to a leading source of unemployment. Dan Grech reports from a community near Miami that the Latino population has suffers a particular loss.
There was a big jump in wholesale prices in January showing inflation is rising faster than it has since 1981. Yet home prices are on a steep decline. Jill Barshay reports on what the conflicting figures say about the economy.
The Senate could vote on a bill that would let bankruptcy judges reset the terms of mortgages to keep stave off foreclosing. But some analysts worry this could cut the value for homeowners. John Dimsdale reports.
More than 300 FEMA trailer residents have requested formaldehyde testing after experiencing respitory problems. FEMA claims the trailers were built according to Federal standards, but many believe those standards are not tough enough. Nancy Marshall Genzer reports.
The Catholic churches of New York are playing their part helping the mortgage crisis by adding workshops to their weekly masses. Jill Barshay reports the financial sermons are delivered by experts, not the priests.
A government regulator of mortgage lenders is putting together a refinancing option to help avoid foreclosures. John Dimsdale reports how the government hopes it will help and how the plan might benefit homeowners.
The threat of foreclosure has hit millions of Americans. But commentator Angela Glover Blackwell says the housing bust may finally put affordable homes within reach, allowing communities to rebuild.
