BofA has officially acquired Countrywide Financial – but not without taking on a surprisingly large amount of risk in times like these. It’s official: Bank of America has acquired Countrywide Financial, marking the completion of an audacious rescue of one of the most troubled lenders in the United States. The deal will expand Bank of [...]

Everytime you hear the optimists speak about a turn in the economy being just around the corner, you hear of things like the tax rebate checks, or some statistic trying to show that housing isn’t as bad as it really is, or the fact that unemployment and GDP growth aren’t as bad as they could [...]

The finance industry continues to suffer losses and as a result, it seems that some forecasting has shown it’s time to trim the fat where it can still be trimmed. JPMorgan Chase on Tuesday said it plans to transfer 420 customer-service jobs from the Valley to locations outside Arizona as part of an ongoing workforce-efficiency [...]

Rising by over 1 Million, the number of vacant homes has now been marked at 18.6 Million in the United States. A record 18.6 million U.S. homes stood empty in the first quarter as lenders took possession of a growing number of properties in foreclosure. The figure is 5.7 percent higher than a year ago, [...]

Last year I touched on what an Option ARM is (also referred to as Neg-Am [Negative Amortization]) and how millions may lose their homes as a result of them being pushed on those who already cannot afford a home. If you look at the video below, you’ll see how sneaky Option ARM’s can be and [...]