Many homeowners are frantic to refinance as their home values drop. But on the other side of the equation are buyers who are refusing to jump in until the market hits bottom. How will they know when it does? Dave DeWitt reports.
The House is expected to consider a $300 billion housing rescue package this week. The bill would allow the Federal Housing Administration to insure new, cheaper mortgages for homeowners facing foreclosure. Nancy Marshall Genzer reports.
A leading economics institute in Britain has found a new culprit to blame for the severity and worldwide spread of the credit crunch. It's America's bankruptcy laws, and they should be made more strict. Stephen Beard reports from London.
Speculators armed with subprime or adjustable-rate loans flooded the condominium market a couple of years ago. Now, many are in trouble, and other residents in their condo communities are paying the price. Dan Grech reports.
A $3 billion plan to revitalize downtown Los Angeles has been pushed back due to the credit crunch. Lisa Napoli reports on what it means when commercial real estate developers can't develop real estate.
Many homeowners are still feeling the pinch of tight credit and falling housing prices. A new report says the foreclosure rate has more than doubled from a year ago. And the pain is becoming more widespread. Janet Babin has more.
The Federal Reserve is holding hearings in L.A. on Bank of America's planned acquisition of troubled mortgage company Countrywide. Fair-lending advocates say the acquisition should include an obligation to help clients avoid foreclosure. Jeff Tyler reports.