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Fewer underwater homeowners at regional, national level

The number of underwater homeowners in the Washington area decreased again in the last quarter of 2012, continuing a trend that has brought relief to thousands of borrowers.

 

Two-thirds of Americans with mortgages pay 5% interest or higher

Mortgage Rate

Record-low interest rates are out of reach for many homeowners, and a big reason is that millions are underwater. Obama and others are trying to assist them. U.S. interest rates are at rock-bottom levels, but that's not helping most Americans with mortgages.

 

Governments mull seizing underwater mortgages

With millions of homeowners still underwater, some local governments are considering a novel solution: condemning their mortgages through the power of eminent domain. “Federal programs have not been very successful at all, and the private programs have been of limited help,” said Gregory Devereaux, administrator for San Bernardino County, explaining the government's decision to consider eminent domain, a plan the mortgage industry considers the equivalent of the nuclear option. The hard-hit county's board of supervisors is expected to meet Thursday to consider proposals to help homeowners, including the possible use of eminent domain.

 

Gulf oil spill brings unprecedented hurdles

Gulf oil spill brings unprecedented hurdles

Scientists say incident is especially troubling because it is the 1st massive U.S. oil spill whose effects so far are largely hidden underwater.

 

Monument lifted from Cleopatra's underwater city

Monument lifted from Cleopatra's underwater city

Egyptian archaeologists on Thursday lifted an ancient granite temple pylon out of the waters of the Mediterranean, where it had lain for centuries as part of the palace complex of Cleopatra, submerged in Alexandria's harbor.

 

Maldives Government Holds Underwater Cabinet Meeting

Maldives Government Holds Underwater Cabinet Meeting

The government of the Maldives has held its first underwater cabinet meeting to attract international attention to the dangers of global warming.

 

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