Treasury Secretary Jacob Lew warned Thursday of a “potentially catastrophic” hit to the economy if the nation reaches the debt limit next week and defaults on its obligations.Read More »
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2010 decision to mortgage state’s assets threatens cash reserves
Borrowing billions of dollars allowed Arizona to limp through the worst financial crisis in its history. But the decision to mortgage state assets that include the House and Senate buildings has an unwanted underside: It precludes the state from having significant cash reserves.
President Barack Obama is proposing to overhaul the nation's mortgage finance system, including shutting down government-backed Fannie Mae and Freddie Mac — a plan with bipartisan support on Capitol Hill.Read More »
An attorney representing a housing organization took its first step in suing the state over a sweep of $50 million meant to assist distressed homeowners.Read More »
Arizona Gov. Jan Brewer has signed a bill requiring mortgage lenders to try to work with homeowners to avoid foreclosures.Read More »