Tagged: Housing Crisis

Local News
4:08 pm
Fri January 11, 2013

Charlotte: A City Of Mortgage-Debtors

Only 20 percent of Charlotte homeowners have paid off their mortgages completely, compared to a national average of 29 percent.

More homeowners in Charlotte have mortgage debt than in most other major metro areas around the country.  Are we just prone to big spending, or is something else at play in the housing market here?  

Almost 21 million Americans – nearly a third of the nation's homeowners – own their homes outright.

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Business
6:26 am
Mon October 15, 2012

BofA Gets Praise From Housing Counselors

When Bank of America announces quarterly earnings this week, foreclosures and defaulting loans will once again be a key part of the equation.

The Charlotte bank has spent four years wading through a sea of troubled mortgages it took on with the 2008 acquisition of Countrywide. Along the way it's become a favorite target of vitriol - often landing on lists of "most hated institutions" in America. 

But recently, WFAE's Julie Rose discovered some of the people on the front lines of the foreclosure crisis are softening toward Bank of America. 

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