AP - Gov. Jon S. Corzine signed legislation Friday that provides $40 million for two programs aimed at keeping financially distressed homeowners from losing their homes to foreclosure.
AP - Despite record foreclosures, despite double-digit home price declines, and despite scary job losses, Miami's commercial real estate market has rolled with the punches until now.
Reuters - A top bank industry group said on Friday that it opposes an agreement between Citigroup Inc and Democratic senators that would rewrite U.S. bankruptcy law to help troubled mortgage borrowers avoid foreclosure, saying it could make home loans more expensive.
AP - A key lawmaker said Friday he expects the House to act soon to impose conditions on any new release of the second $350 billion in federal bailout funds, with a mandate that between $40 billion and $100 billion go to help struggling borrowers avoid foreclosure.
AP - KB Home managed to stem its losses in the fourth quarter versus a year ago, but the homebuilder saw sales plummet by 56 percent and said Friday it expects home prices to fall further this year and there are tougher times ahead for the industry.
Reuters - KB Home posted a worse-than-expected quarterly loss on Friday and said unprecedented pressures on the industry and the economy would remain difficult or worsen, sending its shares lower.
