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Arizona fares slightly better as high mortgages, low inventory hit home sales
High mortgage rates and tight inventories are hitting home sales nationwide, but agents in Arizona say the continuing influx of new residents to the state has softened the impact in the Valley.
Couple forced from condominium taking fight to court
Jie Cao and Haining “Frazer” Xia did not want to leave their home. But after an investment company bought the majority of the units in the couple’s condominium complex and voted to sell the unwilling remaining residents' units to themselves, Cao and Xia were forced out.
Texas man involved in online romance scams gets 3 years
A Texas man was sentenced on Tuesday to more than three years in prison for his role in an online romance scam in which the identities and images of real U.S. military generals were used to cheat victims from Arizona and around the nation out of a total of $1.5 million, federal prosecutors said.
Lew warns of debt-limit catastrophe; Schweikert says that’s not so
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.
Debt Dilemma
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.
Obama heads to Phoenix to pitch mortgage reform
President Barack Obama is proposing to overhaul the nation's mortgage finance system, including shutting down government-backed Fannie Mae and Freddie Mac ai??i?? a plan with bipartisan support on Capitol Hill.
Attorney prepares lawsuit to challenge sweep of mortgage assistance money
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.
Brewer signs foreclosure notification bill
Arizona Gov. Jan Brewer has signed a bill requiring mortgage lenders to try to work with homeowners to avoid foreclosures.
