Nov. 18, 2010 at 4:56 p.m.
Filed under:
Housing,
Mortgages,
Policy,
Real estate
By Mary Ellen Podmolik
The number of Chicago-area homeowners who received permanent mortgage modifications rose last month, topping 25,000, but the pace at which consumers are being added to that group has slowed dramatically.
The government’s monthly accounting of its Home Affordable Modification Program showed that in the Chicago area, the 25,001 mortgages that received permanently lower payment terms was a 3.1 percent increase from September. On a percentage basis, that’s the smallest monthly gain of the year, and a dramatic drop from the high double-digit gains recorded earlier this year. Get the full story »
Nov. 11, 2010 at 2:32 p.m.
Filed under:
Autos,
Government,
IPOs
By Reuters
The U.S. Treasury should make General Motors Co. suspend its planned initial public offering to ensure a better return for taxpayers on the government’s stake in the company, safety and consumer advocates said Thursday.
In a letter to President Barack Obama, the group led by consumer advocate Ralph Nader said the administration has a fiduciary responsibility to take a measured approach on the stock sale and leverage ownership to make strides on auto safety and fuel efficiency. Get the full story »
