Mortgage Debt

US mortgage giants offer incentive to walk away from home loan debt woes

Prices are recovering after the worst foreclosure crisis since the Great Depression. Photo: Bloomberg

Non-delinquent borrowers with illness, job changes or other reasons they need to move will become eligible in March to apply for a so-called deed-in-lieu transaction that erases the shortfall between a property's value and the size of its mortgage. It follows a change in November that lets on-time borrowers sell properties for less than they owe, known as short sales, wiping out the remaining mortgage debt. Normally, the lenders could pursue people to recoup their losses.

Wednesday, 30 January, 2013, 4:07am

Banking chief Benjamin Hung warns of 'turning point' in interest rates

Benjamin Hung Pi-cheng

Hong Kong's banking association has warned that the risk of higher interest rates will rise as the US economy improves and the Federal Reserve links the unemployment level with its short-term interest rate policy.

2 Jan 2013 - 10:22am

Stocks targeted over homes as asset choice for investors

Stocking up

Stocks in Hong Kong are replacing homes as the asset of choice for global investors seeking higher returns amid an unprecedented stimulus by central banks from the United States to Europe that pushed interest rates to record lows.

24 Dec 2012 - 4:07am