As deadline nears, first-time homebuyers and Congress face end to tax creditAs days tick off the calendar, the life span of the much-ballyhooed tax credit for first-time homebuyers is drawing to an end — unless Congress decides to extend it. Gov’t aid makes loans for homes and cars cheap. Just 1 problem: banks not so eager to lendNEW YORK — It’s a good time to borrow money for a home, car or small business. Regulators consider ban on upfront payments for loan help; file charges against 2 firmsWASHINGTON — The head of the Federal Trade Commission said Thursday the agency is considering banning upfront payments to companies that advertise help for borrowers who are in trouble on their home loans. FTC considering ban on upfront payments for loan help; files charges against 2 firmsWASHINGTON — The head of the Federal Trade Commission said Thursday the agency is considering banning upfront payments to companies that advertise help for borrowers who are in trouble on their home loans. White House considering extending tax credit for first-time homebuyersWASHINGTON — The White House is considering extending an $8,000 tax credit for first-time homebuyers. FDIC names first winning bidder in program to back private buys of toxic mortgage assetsWASHINGTON — The Federal Deposit Insurance Corp. on Wednesday named the first winning bidder under a test of the government’s program to back private purchases of toxic mortgage assets and get them off banks’ balance sheets. Homebuilder sentiment index jumps 1 point in September as builders see sales perk upLOS ANGELES — The National Association of Home Builders said Wednesday its housing market index rose in September for the third month in a row, reflecting growing optimism in the industry about rising home sales. FDIC urges buyers of failed banks to offer temporary mortgage aid for unemployed borrowersWASHINGTON — The Federal Deposit Insurance Corp. is encouraging companies that buy failed banks with troubled home loans to extend temporary help to people who have lost their jobs and can’t pay their mortgage bills. Meltdown 101: Why has Obama administration’s housing plan fallen short of high hopes?WASHINGTON — The government set expectations sky-high earlier this year when President Barack Obama launched an effort to help up 7 to 9 million homeowners avoid foreclosure. Perdue signed NC law boosting consumer protections on foreclosures, debt collectionsRALEIGH, N.C. — North Carolina consumers soon will have new protections from foreclosures and intimidating debt collection practices. Federal Reserve survey shows worst recession since 1930s may be overWASHINGTON — The recession is ending and the economy is finally growing again. That’s the message implicit in the Federal Reserve’s latest survey of businesses around the country, which found economic activity stabilizing or improving in most regions. Report says 19 percent of eligible borrowers offered help through Obama loan aid planWASHINGTON — The Obama administration’s $50 billion mortgage relief program is finally picking up speed after a sluggish and disappointing start: Nearly early one in five eligible homeowners have been offered help so far. After housing meltdown, buyers hold the power _ and old-fashioned rules returnThe American dream of homeownership is still attainable. Buyers just have to deal with a new set of realities. Even if shoppers’ willingness to spend returns, ability likely to be constrained for yearsCHICAGO — A year after “shop ’til you drop” stopped, the nation fixates on this question: Will consumer spending ever return to pre-recession levels? Gains in auto and housing industries boost some hard-hit counties, AP stress map showsSigns of life in the auto industry and an easing of the housing crisis helped reduce unemployment and kept foreclosures flat in some of the nation’s hardest-hit areas in July, according to The Associated Press’ monthly analysis of economic stress in more than 3,100 U.S. counties. A year later, exit from Fannie Mae, Freddie is a perplexing quandary for governmentWASHINGTON — A year after the near-collapse of Fannie Mae and Freddie Mac, the mortgage giants remain dependent on the government for survival and there is no end in sight. Summary Box: Manufacturing, housing data boost recovery hopes, consumers are the keyMANUFACTURING GROWTH: The Institute for Supply Management’s manufacturing index showed growth in the sector in August for the first time in 19 months, posting the highest number since June 2007. New customer orders jumped to a level not seen since December 2004. Stocks tumble as traders juggle worries about health of banks, size of market’s six-month runNEW YORK — A stock market ripe for a big pullback succumbed Tuesday, plunging when rumors of a bank failure revived investors’ anxiety about the banking industry and the economy as a whole. Investors start September on cautious footing, stocks fall after manufacturing, housing dataNEW YORK — The stock market’s rally finally gave way on Tuesday, sending shares sharply lower as investors concluded that a six-month surge was overdone. Stocks begin September higher after data shows manufacturing industry grew in AugustNEW YORK — News that the manufacturing industry has grown for the first time in 18 months is giving the stock market a modest advance. Stocks begin September slightly higher as investors await data on manufacturing, housingNEW YORK — Stocks edged higher Tuesday ahead of reports on manufacturing and housing. Pending US home sales rise for sixth straight month in July to highest level since June 2007WASHINGTON — A gauge of future U.S. home sales rose more than expected in July to the highest level in over two years as first-time buyers rushed to take advantage of a tax credit that expires this fall. Stocks begin September little changed as investors await data on manufacturing, housingNEW YORK — As September begins, investors are cautious about extending the market’s rally into a seventh month. Stocks begin September with a lower open, market awaits data on manufacturing, housingNEW YORK — Stocks are falling in early trading as investors await data on manufacturing and housing. Study shows cities cut jobs and hours, raise taxes and fees to deal with economic downturnNEW YORK — The economic downturn has taken a toll on U.S. cities, forcing them to slash jobs, raise taxes and fees and limit hours of operation at libraries, zoos, parks and other popular facilities, according to a survey. Economy’s small drop in 2Q hints recession ending, but strength of recovery remains a concernWASHINGTON — Further evidence the recession is ending came in a report Thursday confirming that the economy shrank at an annual rate of just 1 percent in the spring. GDP shrinks 1 percent in 2nd quarter, better than expected and unchanged from initial estimateWASHINGTON — The economy shrank at an annual rate of 1 percent in the spring, a better-than-expected showing and more evidence that the recession is drawing to a close. Analysts expect fewer 1st-time jobless claims, estimate economy shrank at 1.5 pct in 2QWASHINGTON — Government data this week showed that consumers and businesses went on a big-ticket spending spree in July, sending home, car and equipment sales soaring by the largest amount in years. On Thursday, the Labor Department’s report on weekly jobless claims will indicate whether that improved confidence about the economy is boosting the job market. Consumers and business spend big in July, sending home, equipment and car sales soaringWASHINGTON — Consumers and businesses went on a big-ticket spending spree in July, sending home, car and equipment sales soaring by the largest amount in years. Summary Box: New home sales surge 9.6 percent in July in sign of economic recoveryWHAT HAPPENED?: Sales of new U.S. homes rose 9.6 percent last month, as first-time homebuyers seized on a tax credit that covers 10 percent of the home price, up to $8,000. |
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