BankofAmerica - Articles

Home Prices Heat Up in May as Pace of Gains Cools

Nick Ut/AP By Leah Schnurr NEW YORK -- U.S. single-family home prices rose in May, suggesting the housing market recovery continued during the spring buying season though the pace of gains cooled compared to the month before, a closely watched survey showed on Tuesday. The S&P/Case Shiller composite index of 20... Continue Reading »

How to Owe More on Your Mortgage? Get a Loan Mod

Wait, aren't loan modifications supposed to provide financial relief? Yes – if you consider a teaser mortgage rate to be a bargain. A new report finds that seven in every ten borrowers who have received a change in their mortgage in order to forestall foreclosure actually now owe more in principal than they did... Continue Reading »

Picketing the Fat Cats

Is consumer frustration with the slow pace of loan modifications finally becoming more than silent resentment? If Monday's protest at the New York offices of JPMorgan Chase is any indication, the answer might be yes. With a little goading from the president, who on Sunday called America's bank presidents "fat cats," a new... Continue Reading »

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