Meritage Homes Corp., Scottsdale (NYSE:MTH) late Thursday filed an 8-K with the Securities and Exchange Commission disclosing its intention to contest an effort by lenders and its joint venture partners to pay liabilities of $13.2 million related to the stalled Inspirada community in Henderson, Nevada. The filing was triggered by the June 6 receipt of a demand from the lenders, led by J.P Morgan Chase, for payment of $13.2 million considered by the lenders as Meritage's share of the amount owned by the joint venture, which was forced into involuntary bankruptcy by the lenders in December. More
We asked readers whether their banks had recently started lending again. Here are some of the responses we received. More
Unable to resolve a credit agreement dispute with one of its 14 lenders, the builder has filed for Chapter 11 protection—but only for some of its entities. More
The New York Times' Lynnley Browning makes a case for Nov. 11, 2010 as "rock bottom" for a 30-year fixed loan rate at 4.17%. More
The minutes of the September meeting of the Federal Reserve's Open Market Committee, released Tuesday afternoon, left enough of an opening for further stimulative action to cause the stock markets to reverse and post gains for the first time on the day. The committee agreed with one dissenting vote last month to hold its target interest rate between 0% and 0.25%, but the minutes indicated a growing interest in providing further aid to the economy. More
Latest quarterly data from RealtyTrac also reveals states with highest percentage of foreclosure sales and average discounts for distressed sales. More
Home builders hold few fond memories from the summer of 2010, with its post tax credit home sales crash. But with the dog days behind, and the first day of fall near, some hold hope that the market will heat up as the thermometer falls. There is some anecdotal evidence that sales were improving by the end of summer. Publicly held builders reported in August that July was better than June and that August, usually a slow month, was looking better than July. More
M/I Homes, Inc. (NYSE:MHO) on Tuesday obtained extensions for four separate secured Letter of Credit Facilities that the company entered into in July 2009. More
North Carolina congressman who introduced the legislation is most concerned about the industry’s job drain. More
M/I Homes, Inc. (NYSE: MHO) said Monday it entered into a new three-year, $140 million secured revolving credit facility with a group of nine banks led by PNC Bank. More
