Congress is projecting losses of over $100 billion in housing wealth from the subprime mortgage crisis, and not all of that comes from foreclosures. Jeremy Hobson reports a good chunk of loss comes from falling property values.
The latest official estimate on losses to the Southern California wildfires stands at $1 billion. And that's just in property damage. Still, the odd result in the long run may be an economic shot-in-the-arm. Bob Moon reports.
The insurance bill from the Southern California wildfires could total into the billions of dollars. Will that change how we live? Kai Ryssdal asked Martin Grace, a professor of risk management, what he thinks.
Countrywide Financial Corp. is promising to reach out to 82,000 of its borrowers and refinance or modify around $16 billion in home loans. Consumer advocates say it's about time. Bob Moon reports.
A lot of recent homebuyers are losing equity in their homes as the housing market fades. Commentator and economist Austan Goolsbee says if you're one of them, it's time to face reality.
While Congress readies itself for a housing market bill next week, states like Massachusetts and Minnesota are passing their own measures against abusive lending practices. Amy Scott has more.
Democratic Senator Charles Schumer is calling for a formal investigation by the Securities and Exchange Commission into questionable stock trades by Countrywide CEO Angelo Mozilo. Alisa Roth reports.
About 2 million subprime loans set up with teaser rates will expire over the next 18 months, leaving homeowners with much higher mortgage payments. But finding a better loan deal to prepare for the jump isn't easy. Mhari Saito reports.
Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke have modified their public statements on the state of the U.S. housing market. Each now says they see a significant risk to the economy. Steve Henn reports.
A nationwide survey of homeowners with adjustable-rate mortgages shows only a small percentage are worried about impending trouble. Steve Tripoli reports there may be a dangerous knowledge gap at work.
