Housing

The recent problems terrorizing the mortgage market are likely to scare off some investors for some time to come. But sale prices in the aftermath could also lure in bargain hunters. Steve Henn reports.

Bank of America got a lot of attention on Wall Street last week for a timely loan that saved mortgage lender Countrywide Financial. But it also got a heckuva deal, says Allan Sloan, the kind taxpayers can only wish the Fed and the ECB were getting.

Even as the subprime mortgage sector crumbles and lenders like Countrywide take out multi-billion dollar lines of credit to stay in business, ads appealing to people with bad credit are still surfacing on the Internet. Say what? Ashley Milne-Tyte reports.

Today's reports say new-home sales are up 2.8% and U.S. factory orders nearly 6%. But, wait. Those are the numbers from July -- before the subprime debacle and the credit squeeze. Jill Barshay has more.

New home sales numbers for July come out this morning and most analysts expect bad news as problems in the mortgage industry continue to leave builders with fewer and fewer potential home buyers. And the worst is still to come, Steve Henn reports.

The markets seem to have calmed down a bit from the initial mortgage meltdown shock, but has the worst passed? Kai Ryssdal talked with financial strategist Richard Bove to get some guidance.

The Indian government wants to turn its financial capital of Mumbai into a world-class city. But what will it do with a notorious slum, the largest in Asia, and the people who live there? Miranda Kennedy reports.

Millions of American homeowners are now trapped in adjustable rate mortgages watching their monthly payments creep ever upward as options for refinancing dwindle away. We ask mortgage consultant Kassie Welch, what now?

It's amazing what a little extra cash can do. Word broke last night that Bank of America bought $2 billion of stock in ailing mortgage giant Countrywide Financial, and suddenly investors are feeling a bit rosier too. Amy Scott reports.

The mortgage industry can't come up with cash. Mortgage companies are laying people off — or worse, going bankrupt. But investors are smiling on one slice of the mortgage market, the good, old-fashioned thrift. Jill Barshay reports.