Wednesday, April 7, 2010 as of 11:14 AM ET
Negative equity occurs when the value of an asset used to secure a loan is less than the outstanding balance on the loan. In the United States, assets (particularly real estate, whose loans are mortgages) with negative equity are often referred to as being "underwater", and loans and borrowers with negative equity are said to be "upside down".
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FOX Business: The Power to ProsperWall Street's May slump deepened on Wednesday as an early buying spree fueled by upbeat U.
S. economic data was foiled by fears about the health of beaten-up Greek banks. Today's MarketsThe Dow Jones Industrial Average fell 33.45 points, or 0.26%, to 12598.55, the Standard & Poor's 500 declined 5.86 points, or 0.44%, to 1324.80 and the Nasdaq Composite slumped 19.72 points, or 0.68%, to 2874.04.The latest jitters about debt-ridden Greece were generated by news that the European Central Bank has cut off traditional lending to Greek banks, which have seen an enormous outflow of deposits by scared residents in recent days."Everyone is always concerned about the banks because everything is so tied in now," said Joe Saluzzi, co-head of trading at Themis Trading. "People maybe thought they put this to bed a few months ago when it fact it popped right back up after the Greek elections."Wednesday's Greek-fueled selloff left Wall Street in the red for the fourth...Buying a home is most likely one of the biggest purchases you will ever make, not to mention one of the most stressful and emotional. To add to the pressure, the lin...
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FBN’s Peter Barnes on the possible new mortgage modification plan by the FHFA.
Pam Marron, a mortgage broker for 27 years in Tampa, Fla., is trying to put an end to one of the dumbest things any financial-services company can do.She says banks,...
Before the recession, the average consumer prioritizing monthly loan payments put the almighty mortgage at the head of the pack. After economic turmoil, when home eq...
If you are car shopping, you probably can't help but notice car advertising from both manufacturers and dealers everywhere you turn -- on television, in the Sunday p...
The Federal Housing Finance Agency (FHFA) says in a new report that Fannie Mae and Freddie Mac have to date conducted 1.1 million permanent loan modifications.The FH...
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FBN’s Liz MacDonald on Bank of America’s deal to reduce balances of 200K homeowners.
FBN’s Gerri Willis on the factors leading to North Dakota’s economic success while other states such as Georgia are still struggling.
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A house is often a major point a contention when a married couple decides to divorce. But whereas spouses once fought mainly over who would own the house (the name o...
On Wednesday, gold ( NYSEARCA:GLD ) futures for June delivery declined $20.50 to settle at $1,536.60 per ounce, its lowest level since July. Meanwhile, silver ( NYSE...
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OwnAmerica CEO Greg Rand on the best places to invest in real estate.
The European Central Bank has halted monetary-policy operations with some Greek banks that have not been recapitalized, Reuters reported Wednesday, citing euro zone ...
FBN's Ashley Webster breaks down how concern over Greek banks impacted the European market close.
The European Central Bank has stopped providing liquidity to some Greek banks as they have not been successfully recapitalized, the ECB said on Wednesday, confirming...
OwnAmerica CEO Greg Rand discusses the downward trend in home ownership and why he believes it will turn around.
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