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Chris Arnold NPR correspondent Chris Arnold is based in Boston. His reports are heard regularly on NPR's award-winning newsmagazines Morning Edition, All Things Considered and Weekend Edition.
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Economy

Countrywide to Adjust Loans for At-Risk Borrowers

Countrywide Financial Corp., the nation's largest mortgage lender, will begin calling borrowers to offer refinancing or modifications on $16 billion in loans whose interest rates are set to adjust by the end of 2008.

Countrywide to Adjust Loans for At-Risk Borrowers

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Politics

Bill Alters Bankruptcy Code to Help Homeowners

The House Judiciary Committee is considering changing the bankruptcy code to offer greater protections for homeowners. Foreclosure filings have risen to their highest level since the Great Depression.

Bill Alters Bankruptcy Code to Help Homeowners

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Business

Countrywide Under Fire from Prosecutors

Many homeowners are in trouble because they can't make their mortgage payments. Now, support groups are targeting the policies of Countrywide, the nation's largest mortgage lender. State prosecutors are also stepping up pressure on the big home lenders.

Countrywide Under Fire from Prosecutors

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Business

Prosecutors Pressure Lenders as Foreclosures Soar

Foreclosures in the U.S. are at their highest levels in 50 years. President Bush and Congress have appealed to the mortgage industry to lower rates, but housing advocates say the response has been paltry. Now, the top prosecutors in 37 states are putting more direct pressure on lenders.

Prosecutors Pressure Lenders as Foreclosures Soar

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Economy

Michigan Economy Among Nation's Worst

Whether it's measured by job creation, home foreclosures or people on food stamps, Michigan's economy is one of the worst in the United States. A strike against General Motors threatened to make that even worse. The two-day walkout is over, but the state's economic troubles aren't.

Michigan Economy Among Nation's Worst

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Economy

Hill Hearing Focuses on Foreclosure Crisis

What can the federal government do to offset a rash of foreclosures on home loans? The House Financial Services Committee hears the views of the treasury secretary and the Federal Reserve chief on options legislative and regulatory.

Hill Hearing Focuses on Foreclosure Crisis

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Economy

Rate Cut Benefits Consumers Some, Investors More

The Federal Reserve slashed the federal funds rate, charged on overnight loans between banks, by one-half a percentage point to 4.75 percent. Wall Street investors were happy. But for average people, the cut doesn't translate into that much money in their pockets.

Rate Cut Benefits Consumers Some, Investors More

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Economy

Treasury Chief Urges Refinancing for Homeowners

Treasury Secretary Henry Paulson urges large mortgage companies to help homeowners by refinancing their loans. Many homeowners face steep increases in their mortgage payments, putting them at risk of losing their homes.

Treasury Chief Urges Refinancing for Homeowners

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Economy

Housing Market Problems Lead to Job Cuts

On the heels of a report that the economy lost jobs in August for the first time in four years, the nation's largest home-mortgage lender said it plans to lay off as many as 12,000 workers. Countrywide Financial is struggling with the housing market's subprime mortgage problems.

Housing Market Problems Lead to Job Cuts

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Business

Number of U.S. Jobs Takes a Dip

The Labor Department reports that the number of jobs in the United States has fallen for the first time in four years. Employers cut 4,000 jobs in August. The unexpected news has led to fears of a recession.

Number of U.S. Jobs Takes a Dip

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Economy

Bush Offers Help to Overwhelmed Mortgage Holders

Responding to the growing wave of mortgage foreclosures, President Bush has announced measures that could help some troubled borrowers keep their homes. But only a small fraction of subprime borrowers will be eligible.

Bush Offers Help to Overwhelmed Mortgage Holders

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Economy

Housing Woes Grow as Prices Slump Nationwide

A federal report finds that housing prices were flat this spring and could be heading lower. Economists say the recent news is evidence that the real estate slump will be more prolonged and widespread than predicted.

Housing Woes Grow as Prices Slump Nationwide

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Your Money

Borrower's Choice: Pay Now, Pay (More) Later

The pitch to skip a mortgage or home loan payment is centered on the lender simply extending the loan by a month and paying it on the back end. But the offer has a catch. The lender makes money on the later payment because the borrower pays a little more interest.

Borrower's Choice: Pay Now, Pay (More) Later

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Economy

Economists Brace for Worsening Subprime Crisis

Jose Pomales has a solid job and has lived in his Boston home for 8 years. He refinanced a couple of years ago and now could be part of what economists predict will be the biggest wave of foreclosures yet.

Economists Brace for Worsening Subprime Crisis

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Minneapolis Bridge Collapses

Rhode Island Inspects Bridges in Wake of Tragedy

States are conducting hasty inventories of their infrastructure problems in response to the Minneapolis bridge collapse this week. Among them is Rhode Island. The state may be small, but it has more than its share of dilapidated roads and bridges.

Rhode Island Inspects Bridges in Wake of Tragedy

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