Metas
Real Estate News 04/29/08
FORECLOSURES
The number of homes in some stage of the foreclosure process rose again in the first quarter, according to RealtyTrac. And while Florida had a number of cities near the top of the list, California and Nevada landed the top spots. Stockton, Calif., ranked Number 1, with one out of every 30 homeowners in some stage of foreclosure in the first quarter.
COUNTRYWIDE
Bank of America Corp. will expand efforts over the next two years to help Countrywide Financial Corp. borrowers avoid foreclosure, a top bank executive said Monday, adding it would help at least 265,000 borrowers with $40 billion in problem loans.
CONSUMER CONFIDENCE
Consumer confidence fell 3.6 points in April, though most of the drop resulted from a decline in attitudes about current economic conditions. Expectations about conditions six months in the future remained relatively unchanged.
HOUSING MARKET
According to the United States Census Bureau, 2.9 percent of all U.S. homes - excluding rental properties - were vacant and for sale in the first quarter, compared with 2.8 percent in the fourth quarter of 2007, setting a new record. The United States homeownership rate remained at 67.8 percent in the first quarter.
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