Housing

6:47am

Wed May 16, 2012

1:06am

Tue May 15, 2012
Your Money

Canada's Housing Market Booms; Experts See Trouble

Originally published on Tue May 15, 2012 7:51 am

Canada's real estate market is one of the hottest in the developed world.
Mike Cassese Reuters /Landov

Housing prices are going through the roof in Canada. The real estate market there is one of the hottest in the developed world. In Toronto, prices increased 10 percent in March alone. The average detached house in the city costs more than $600,000.

That has economists and the government worried that Canada is experiencing a housing bubble that's about to burst.

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5:11am

Fri May 11, 2012
Business

Freddie Mac Names Retired JPMorgan Official CEO

Mortgage broker Freddie Mac named Donald Layton as its new chief executive officer. Layton worked for JPMorgan Chase for nearly 30 years before retiring in 2004.

3:24pm

Wed May 9, 2012
Economy

Foreclosure Review Is Free, But Few Borrowers Apply

Originally published on Wed May 9, 2012 5:19 pm

A foreclosed home in Los Angeles. More than 4 million homeowners nationwide are eligible for an independent review of their foreclosure process, but only a small percentage have applied to the program.
Damian Dovarganes AP

It's been more than six months since government regulators and banks first extended an offer to 4.3 million homeowners facing foreclosure: to review, at no cost, the foreclosure process to check for any possible errors or misrepresentations.

Homeowners stand to collect compensation of as much as $100,000 if errors are found. But thus far, only a tiny percentage of those eligible have signed up.

'Not Enough Folks Have Signed Up'

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10:34am

Wed May 9, 2012
The Two-Way

Fannie Mae Posts Profit, Doesn't Need Federal Funds For First Time Since Crisis

Originally published on Wed May 9, 2012 3:58 pm

Fannie Mae.
Manuel Balce Ceneta AP

The mortgage giant Fannie Mae announced today that it made $2.7 billion during the first quarter of 2012. For the first time since the beginning of the financial crisis, Fannie Mae will not ask the federal government for bailout funds.

CNN reports the company will pay a dividend to the Treasury Department. CNN adds:

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