Category Archives: Housing Market

BofA $8.5 billion deal to go forward; AIG loses bid to delay

BofA $8.5 billion deal to go forward; AIG loses bid to delay

NEW YORK — A New York state judge declined to delay court approval of Bank of America Corp’s (BAC.N) $8.5 billion settlement with investors in mortgage-backed securities, rejecting a move by American International Group Inc (AIG.N).

At a hearing on Wednesday, Justice Saliann Scarpulla of New York State Supreme Court ordered the judgment by her predecessor in the case, Barbara Kapnick, to be officially recorded.

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Insight: Underfunded U.S. homeowner associations get heavy


For six years, Ingrid Boak, who travels a lot for work as a racehorse trainer, ignored mail from her homeowner association.

Boak, of Lexington, Kentucky, says the letters were requests for $48 in annual fees for upkeep of the tidy neighborhood of one-story brick homes. Because she didn’t use the clubhouse or pool, or participate in social activities sponsored by the association, she didn’t think she needed to pay. Read more »

Judge puts approval of BofAs $8.5 billion mortgage settlement on hold

Judge puts approval of BofAs $8.5 billion mortgage settlement on hold

NEW YORK — A new judge presiding over Bank of America Corp’s (BAC.N) proposed $8.5 billion settlement with investors in soured mortgage securities on Tuesday postponed entering a final judgment in the case, raising the possibility of additional legal maneuvers.

Justice Saliann Scarpulla of New York state court in Manhattan, who took over the case this week, agreed to delay the decision from taking effect until at least February 19, according to lawyers involved in the case.

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U.S. housing recovery uneven across markets, study finds

U.S. housing recovery uneven across markets, study finds

WASHINGTON — The U.S. housing sector is likely to experience an uneven recovery over the next five years, with some local markets bouncing back faster than others, according to a study released on Wednesday.

By 2018, the median price of single-family homes will be close to the peak reached in 2006 before the national market cratered, according to the study from the Demand Institute, a nonprofit think tank operated by The Conference Board and Nielsen. Read more »