Deep discounts and significant financial incentives are starting to proliferate in the local housing market as lenders push to get foreclosed properties off their books. More…
Fewer homes than expected will crop up in two years on the former state trust land north of Fountain Hills. More…
CHARLOTTE, N.C. - Bank of America said Friday it will buy Countrywide Financial for $4.1 billion in stock, a deal that rescues the country’s biggest mortgage lender and expands the financial services empire of the nation’s largest consumer bank. More…
The nation’s largest bank’s plan to buy the nation’s largest mortgage company rocked the financial industry on Friday. More…
WASHINGTON - A buyout of hobbled mortgage lender Countrywide Financial likely would be approved by regulators, analysts say, because otherwise the company could file for bankruptcy, further disrupting the market for home loans. More…
NEW YORK - A volatile Wall Street advanced Thursday for the second day in a row, as investors found renewed confidence in a report that Bank of America Corp. is close to buying struggling mortgage lender Countrywide Financial Corp. More…
The Valley’s overall housing market ended 2007 listlessly, and the Southeast
WASHINGTON - Fed Chairman Ben Bernanke borrowed a page from Alan Greenspan’s crisis playbook when he promised emphatically to cut interest rates further if the weak economy needs the help. More…
LOS ANGELES - Countrywide Financial Corp., its stock pummeled this week by rumors of bankruptcy and lackluster housing-market forecasts, said Wednesday the percentage of borrowers who missed payments on home loans last month rose, signaling worsening trouble for the nation’s largest mortgage lender and for the entire mortgage sector. More…
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SALT RIVER COMMUNITY - Phoenix-based De Rito Partners Development Inc. has bought the Scottsdale Pavilions shopping center for $88 million with plans for major redevelopment and expansion. More…
Congress has made two tax-law changes of special interest to certain homeowners. One affects people who buy homes with small down payments. These individuals typically must pay for mortgage insurance. More…
There’s a new FICO in town, and there’s a good chance it’s going to change your world. FICO is the name of the most commonly used credit score. It was created by a company called Fair Isaac back in 1989 to help lenders figure out which consumers were credit risks. It takes factors like your payment history, the amount you owe and the types of credit you have and boils it down to a number. More…
Every city has a few crown jewels, but in 2008, Phoenix plans to pile on the razzle-dazzle. Several downtown projects, which are expected to wrap up this year, could have huge influence on the heart of the city, insiders say. More…