“CLEVELAND (AP) — Just before dinner on a warm fall afternoon recently, Cecelia Smith mounted a riding mower, steered it into the empty lot beside her tidy yellow house in the city’s Slavic Village neighborhood, and roared into her weekly chore.”
Floridians stampede for new mortgage-reduction aid
“By 9 a.m. Thursday _ just 24 hours after the state began taking applications for a principal-reduction program _ more than 12,000 Floridians with underwater mortgages applied for the aid.”
Bank Analyst: Dodd-Frank killed low-income lending
“Congress enacted the Dodd-Frank Act three years ago to remedy lending excesses that took root before the financial meltdown.”
Home price indices show home values rising more than 10%
“The home price recovery continues, despite a moderate slowdown in August, driven by rising mortgage rates and declining home affordability, CoreLogic (CLGX) claims in a new report.”
Entry-level homebuilders most at-risk as HUD shuts down
“A prolonged government shutdown may create delays for homebuilders and their FHA-qualified clients if the Federal Housing Administration remains closed for longer than a few weeks, an analyst with Sterne Agee claimed Tuesday.”
Wall Street CEOs to Meet With Obama as Budget Crisis Continues
“The chief executives of large banks including Goldman Sachs Group Inc. (GS) and JPMorgan Chase & Co. (JPM) will meet with President Barack Obama tomorrow as Wall Street urges Congress to end the budget stalemate in Washington.”
L.A. County leads California in poverty rate, new analysis shows
“A new analysis of hardship that adds factors such as housing costs and government benefits found that 27% of L.A. County residents lived in poverty in 2011, compared with the official rate of 18%.”
Shutdown: What happens next
“Congress failed to pass a funding bill on Monday night. And so began a series of complex procedures to power down the federal government.”
Metros That Could Suffer Most from a Federal Government Shutdown
“The Washington D.C. economy would suffer most in a federal shutdown, but other metros across the country could also be hit especially hard.”