Associate Press
updated 8:15 p.m. ET, Wed., July. 30, 2008
Guess who holds your mortgage now? It’s your friendly neighborhood hedge fund.
Dozens of hedge funds, private equity groups and other investors have plunged into the beaten-down mortgage market in recent months, buying tens of thousands of distressed loans and foreclosed properties around the country. They hope to [...]

Associated Press
updated 5:58 p.m. ET, Wed., July. 30, 2008
WASHINGTON - President Bush signed a housing bill Wednesday intended to rescue about 15 percent of the cash-strapped homeowners in fear of foreclosure in the next year or so.
Early in the morning and out of public view, the president signed it without fanfare in the Oval Office, [...]

Associated Press
updated 10:58 a.m. ET, Wed., July. 30, 2008
NEW YORK - Applications for U.S. home mortgages dropped to their slowest pace since December 2000 as loan rates hovering near one-year highs compounded the housing market’s woes, according to data from an industry group on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage [...]

By DAVE CARPENTER, AP Business Writer Tue Jul 29, 11:02 PM ET
Questions and answers about the Hope for Homeowners Act of 2008, passed by Congress last weekend to try to steer as many as 400,000 struggling homeowners away from foreclosure:
Q: What exactly will the legislation do?
A: It will allow those who qualify to cancel their [...]

America may be a metropolitan nation, but most of us don’t seem very happy about it.

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