Hot and Cold Zones of San Diego Real Estate

(Source: Sign on San Diego by Lily Leung) – San Diego software engineer Paul Xu and his wife, Yaling, are expecting in December, so they’re scouting for something newer and bigger than their circa-1990s home in Mira Mesa to fit a growing family and Xu’s...

Banks Offering Payday Loans

(Source: Chicago Sun Times) – Payday loans may be coming to a bank near you. They’re marketed under a different name, but a handful of major banks already let customers borrow against their paychecks for a fee. And there are signs the option may soon become more...

Buffett BofA Buy No Seal of Approval

(Source: Politico By JONATHAN MACEY) – The lead news story across America on Friday was Warren Buffett’s $5-billion investment in Bank of America. Bank of America’s value has been plummeting on concerns about its ability to raise the necessary capital to...

Mass. Cracks Down on 5 Reverse Mortgage Firms

(Source: The Boston Globe By Erin Ailworth) – The state Division of Banks has ordered five companies to stop peddling reverse mortgages to elderly homeowners, charging they are not properly licensed to sell the product in Massachusetts.Reverse mortgages allow...

Patience Paying Off in Short-Sale Process

(Source: Chicago Tribune Mary Ellen Podmolik) – Are short sales getting easier?It’s something that’s hard to quantify because there are still plenty of horror stories in which a mortgage servicer took months longer than expected to decide on an...

U.S. Banks Seek Relief on Swelling Deposits

(Source: Bloomberg By Dakin Campbell, Dawn Kopecki and Bradley Keoun) – U.S. regulators have asked some banks to take more deposits from large investors even if it’s unprofitable, and lenders in return are seeking relief on insurance premiums and leverage...

Profit and Strain for China Banks

BEIJING (Source: The Wall Street Journal BY LINGLING WEI) — China’s big banks reported hefty profits in the first half of this year, but signs of strain are showing from their massive lending binges and as they struggle to meet tougher capital...

Denmark Unveils Plan to Avoid Bank Bankruptcy

COPENHAGEN (Source: chinadaily) – The Danish government on Thursday unveiled a new plan aiming at protecting sound banks against bankruptcies and facilitating them to acquire those struggling ones.“It is important that the sector experiences stable...

U.S. May Back Refinance Plan for Mortgages

(Source: New York Times By SHAILA DEWAN and LOUISE STORY) – The Obama administration is considering further actions to strengthen the housing market, but the bar is high: plans must help a broad swath of homeowners, stimulate the economy and cost next to...

New York Spars in Foreclosure Talks

(Source: The Wall Street Journal BY RUTH SIMON AND NICK TIMIRAOS) – Efforts to forge a consensus among government officials seeking to negotiate a foreclosure settlement with banks are stumbling in the face of New York State Attorney General Eric...

Banks Shave More Off Home Prices

(Source: By Mary Shanklin, Orlando Sentinel) – Banks appear to be offering bigger discounts on Orlando-area foreclosures and short sales than in the past, according to a new report by RealtyTrac Inc.The price gap between short sales and ordinary home sales grew...