The U.S. Conference of Mayors put out a detailed report today, forecasting just how badly cities are being affected by the housing slump. Bob Moon talked with Louisville Mayor Jerry Abramson about how the downturn is affecting his city and others.
With the rise of foreclosure filings comes the parallel rise in foreclosure auctions. Lisa Chow checks out the auction block in New York City and looks into whether or not it's worth it to buy.
Congress and state officials are trying to help homeowners facing foreclosure by offering alternatives to borrowers and lenders. But for all the good intentions, not much is changing. Stacey Vanek-Smith reports.
Mortgage giant Fannie Mae reports its earnings today. Along with Freddie Mac, the company has been riding out defaults that have hit its bottom line. Dan Grech reports on what this could mean for the U.S. taxpayer.
The monthly housing market index is reporting a 14-year low on new homes, making homebuilders' outlook less optimistic than usual. Amy Scott tells us when homebuilders hope to see things turn around.
In an effort to make sure the subprime mortgage meltdown doesn't happen again, the House was set to vote today on a bill that would lay down rules for lending. Stacey Vanek-Smith reports.
Remember that special, $75 billion fund some big banks were planning to prop up the credit markets? Details came out today about how the fund will work — or how it won't, as some see it. Amy Scott reports.
New York Attorney General Andrew Cuomo is investigating whether Fannie Mae bought mortgages based on overblown appraisals. Steve Tripoli reports investors will be asking questions over a conference call.
