Archive for the Category ‘Business’

Bank of America Home Loans

Bank of America Home Loans

As part of its commitment to stabilize communities hardest hit by foreclosures, Bank of America Home Loans has announced new streamlined capabilities for municipalities to purchase properties from its real estate-owned (REO) portfolio. The new guidelines are exclusively for local and state government departments receiving U.S. Department of Housing and Urban Development’s (HUD) Neighborhood [...]

German government backs Opel rescue deal

German government backs Opel rescue deal

The Austrian-Canadian firm will buy a majority stake from Opel’s U.S. parent company General Motors.
“I can tell you that a solution has been found,” Finance Minister Peer Steinbrueck said early Saturday after a meeting with the dealmakers.
In exchange for Magna investing in Opel, the German government will provide a $2.1 billion bridge loan to GM [...]

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