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Plans to build a movie studio in Plymouth have been put on hold after developers canceled a $550 million construction loan agreement.
Prosecutors say five people have been charged in Los Angeles with torturing and robbing two men they thought falsely promised to save their home from foreclosure.
Quicksilver Resources Inc., a natural gas and oil producer, said Thursday its bank group has approved a $1 billion borrowing base for its senior secured revolving loan.
The Federal Reserve may expand the field of credit ratings agencies that determine the eligibility of securities pledged for loans in a government program aimed at sparking more consumer and business lending.
Banks reduced their borrowing from the Federal Reserve's emergency lending facility over the past week, and cut back their use of other programs designed to ease the financial crisis.
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.
Boxer Floyd Mayweather Jr. is being sued by a bank in Las Vegas for more than $167,000 unpaid on a loan for a half-million-dollar luxury car.
The Federal Reserve says banks reduced their borrowing over the past week from its emergency lending facility, fresh evidence that credit markets are thawing.
Trina Solar Ltd., a solar power company, said on Tuesday it received a loan of $304 million to expand capacity at its east campus location over the next three years.
Banks boosted borrowing from the Federal Reserve's emergency lending facility over the past week, but cut back on other programs intended to ease the financial crisis. The results offered a mixed picture of credit conditions.
The Federal Reserve on Tuesday named four more financial firms to help investors tap a government program intended to spark lending at cheaper rates to consumers and businesses.
The rate at which people were late making auto loan payments rose in the second quarter as consumers struggled amid rising job losses.
Nearly two years after the federal government moved to slow home foreclosures, a third major effort is turning into another painful disappointment. By John W Schoen.
Last week's news on the slow pace of mortgage relief for millions of struggling homeowners generated a flood of mail from readers looking for help. The Answer Desk, by John W. Schoen.
Automotive retailer CarMax Inc. said Friday that it has renewed its borrowing facility and lowered the limit for its financing arm by $200 million.
After over a year of various industry initiatives, the slow pace of rewriting unaffordable loans remains at a crawl, threatening a fragile recovery. By msnbc.com's John W Schoen.
Prosecutors filed 189 legal actions Wednesday against loan modification consultants accused of bilking homeowners who are desperate to make their mortgage payments more affordable. The nationwide sweep, called "Operation Loan Lies," involved the Federal Trade Commission, the U.S. attorney's office for the Central District of California, and 23 other agencies in 19 states:
Prosecutors nationwide filed 189 legal actions Wednesday against loan modification consultants accused of bilking homeowners who are desperate to make their mortgage payments more affordable.
Investors on Tuesday showed a smaller appetite for participating in a government program intended to spur lending to consumers and small businesses at lower rates.
Major League Baseball has loaned millions to Texas Rangers owner Tom Hicks, Yahoo! reported.
Repaying a student loan could soon be a little less painful.
Developers of one of the city's tallest new skyscrapers said Friday they had lined up a nearly $1.3 billion loan, sealing what experts called one of the biggest real estate financing deals since the economic crisis began last fall.
American Airlines said Thursday it agreed with lenders to change the terms of a $433 million loan.
Investors showed no appetite for commercial real estate loans in the debut of a government plan intended to boost their availability.
ELKHART, Ind. - If you want to see what a credit crunch looks like, head south on Indiana State Road 19 out of Elkhart — past the strip malls, bank branches and restaurants to the still-beating heart of “the RV Capital of the World.” There, scattered along a 2-mile stretch of Nappanee Street, you’ll find a ragtag assortment of RV dealerships that are in many ways symbolic of the nation’s crazy-quilt lending landscape.
One of the silent killers of the economic recovery may be a program the President first introduced in Phoenix back in February.
Nonprofits launch loan modification scam education campaignA partnership of local, state and national government agencies, nonprofit organizations and financial institutions launched a new national public education. for more...
One Out of Three Loan Applications DeniedStatistics are not looking good for loan borrowers, as one out of three mortgage applicants was denied last year. The strict standards, which predictably followed the housing market crash, show no signs of loosening the lending reins.
Loose lending, irrational exuberance, easy money… behind five-fold increase in California hotel loan defaultsMore California hotels are being pushed into foreclosure as tourists and businesses alike scale back their travel plans and owners are unable to pay their mortgages.
Gore-Backed Automaker Secures $529M Taxpayer Loan - Political News - FOXNews.comIt's nice to know that the US government is so concerned about the Finnish auto worker....
Business Owner To Stay On Roof Until Loan Approved -- The owner of a carpet retailer said Monday that he'll live on the roof of his Fairfield store until a bank loan comes through to save his company.
Mortgage Defaults: Many Are Intentional, Study FindsUp to 26% of U.S. homeowners who stop paying their mortgage may be doing so intentionally, not because they can't make the payments, because they don't want to put money into a house that's worth less than what they owe.
Consumers falling behind on loans at record paceSoaring unemployment and a shrinking economy drove delinquencies on credit card debt to an all-time high in the first quarter as a record number of cash-strapped consumers fell behind on their bills.
Obama: A Profile in CowardiceObama: A Profile in Cowardice, Obama has browbeaten America's democratic allies, in support of Muslim and Socialist tyrannies. Iran meddling, Israel settlements, Hondouras constitution, Left wing socialist agenda
Latvian firm accepts souls as guarantee for creditsA financial company in Latvia is offering residents loans secured by nothing but their immortal soul.
Auto loan delinquencies jump nearly 28 % in 1Q - DailyBulletin.comMore down indicators - auto loans 60-day delinquency up 28% from 2008, credit cards delinquency up 11% from 2008, and the big one- mortgage delinquency up (for 9th straight quarter) to 5.22%, that's 62% higher than 2008 1st quarter.
Icelandic banker took 70 million in loans from himself Sigurjon Th. Arnason, former director of Landsbanki, received two loans from his private pension fund kept by the bank. The loans were a so-called bullet loan, meaning interest payment is only due once, at the end of the loan period after 20 years.
The Liberal Housing CrashThe American people are pretty well convinced that the mortgage meltdown was the fault of greedy bankers, stupid borrowers, and the odd Friend of Angelo Mozilo like Sen. Christopher Dodd (D-CT).
Bank Profits From Accounting Rules Masking Looming Loan LossesAnalysts who have examined the quarterly profits and government tests say that accounting rule changes and rosy assumptions are making the institutions look healthier than they are.
In some ongoing discussions here on NV, some of us have been talking about whether our economic system is actually capitalism or an evolved form of mercantilism. One of the key aspects of mercantilism was its focus on 'hard' currency... gold, silver, bullion, etc.
Forget Tea Parties. Bring a Pitchfork to a Shareholder Meeting."Succored by government, America's business and financial elites have assumed a pervasive ethic of entitlement – and suckered the rest of us. Their "innovations" triggered a massive redistribution of wealth – upward."
Short Sales: Banks Blocking Way Out Of Foreclosure CrisisA good report on the failure of the "cram down" Senate vote, and the reasons why banks prefer to foreclose rather than finance short sales of real estate. This costs far more than short sale losses to both seller and bank.
Chrysler Cut-Ups Contract KillersYet Obama forced the senior lenders to take something like 30 cents for every dollar they'd lent Chrysler. Many lenders -- the big banks who'd taken federal bailout money -- rolled over.
Treasury Lends $2B More to GMTaxpayers invested another $2 billion in General Motors Corp. this week as the struggling auto giant continued efforts to restructure and avoid bankruptcy court. See more irresistible headlines
Housing Bubble Smackdown: Bigger Crash AheadMarket analysts predict there will be 5 MILLION MORE FORECLOSURES BETWEEN NOW AND 2011. It's a disaster bigger than Katrina. Soaring unemployment and rising foreclosures ensure that hundreds of banks and financial institutions will be forced into bankruptcy.
Treasury Is Said to Increase Its Offer to Chrysler Lenders The Treasury Department has increased its offer to repay Chrysler's senior lenders as part of continuing talks on how to reduce the company's debt, a person with knowledge of the matter said on Wednesday.
Pay Rule Led Chrysler to Spurn Loan, Agency SaysTop officials at Chrysler Financial turned away a government loan because executives didn't want to abide by new federal limits on pay, according to new findings by a federal watchdog agency.
Chrysler Unit Said to Lose Aid Over Pay IssueDETROIT — Chrysler's lending arm will not get an additional $750 million loan from the federal government after some executives declined to go along with its restrictions on pay, a person with direct knowledge of the matter said Monday.
Indebted Spaniard kidnaps his bankerA Spanish builder with big debts kidnapped his bank manager at gunpoint and demanded a 50,000 euro (44,000 pound) loan plus his luxury car, police in the southern city of Malaga said on Friday.
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