The Bank of England stepped in with an offer of emergency credit today to bail out Northern Rock, one of the U.K.'s biggest mortgage companies. Stephen Beard reports it's just the latest sign the global liquidity squeeze might not yet be contained.
The subprime mortgage mess has made it harder to buy and sell a home. But if you're already a homeowner, here's another option: Become what Kate Ashford of Money magazine calls an accidental landlord. She talks with Tess Vigeland.
Banks are throwing a lifeline of $12 billion in credit to Countrywide. As a result, their stock rose almost ten percent on the announcement. Lisa Napoli reports.
The subprime loan crisis is making some homeowners shift priorities. One big credit counseling service found that many clients are paying their credit cards before they cover the mortgage. Steve Tripoli reports.
New figures out today will show states like Arizona and Florida with the highest housing growth two years ago. Jeremy Hobson reports that now, these states suffer some of the highest foreclosure rates.
Everybody from the Federal Reserve to the European Central Bank to the newest fund manager on Wall Street is worried about subprimes and the liquidity crisis. But commentator Bruce Stokes says there's an even greater challenge out there.
The news keeps getting worse for many American homeowners. New data shows that the rate of home loans in foreclosure has hit a record high for the third quarter in a row. And there's no end in sight, Bob Moon reports.
Three key indicators popped onto economic radar screens yesterday and none of them brought good news. The credit and housing crises are starting to impact the larger economy, but are we on the steep road to recession? Steve Tripoli reads the signs.
Congress wants to help homeowners who are struggling to keep up with skyrocketing subprime mortgages. Forget a traditional bailout, Chris Farrell explains the beauty of the own-to-rent plan.
