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Tag Archives: default

Study: U.S. could default as early as Oct. 18

WASHINGTON — The United States could default on its obligations as early as Oct. 18 if Washington fails to agree on legislation to raise the government’s borrowing cap, a new study predicted Tuesday. The Bipartisan Policy Center analysis says the ...

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Post office nears historic default on $5B payment

WASHINGTON — The U.S. Postal Service is bracing for a first-ever default on billions in payments due to the Treasury, adding to widening uncertainty about the mail agency’s solvency as first-class letters plummet and Congress deadlocks on ways to stem ...

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Government opens program to sell troubled loans

WASHINGTON — The government has opened a program for investors to buy troubled mortgages in hard-hit areas and work out terms with homeowners in an effort to avoid foreclosures. The government on Wednesday announced the planned sale of about 3,500 ...

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Post office near default? Losses mount to $5.1B

WASHINGTON — The U.S. Postal Service said Tuesday it has lost $5.1 billion in the past year, pushing it closer to imminent default on a multibillion-dollar payment and to future bankruptcy as the weak economy and increased Internet use drive ...

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U.S. foreclosure activity hit 7-month high in Oct.

LOS ANGELES — More U.S. homes entered the foreclosure process in October than in the previous month, with Florida, Pennsylvania and Indiana registering among the largest monthly increases, new data show. Some 77,733 properties received an initial default notice last ...

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The next front for ground-rent reforms

This week’s Court of Appeals decision invalidating one ground-rent reform opens the door for the next stage: a separate class action brought by ground lease holders who say another recent change has made their investments worthless. In April, Anne Arundel ...

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