Halabi Companies Fail to Fix Mortgage Bonds Default (Update1) (Bloomberg)
July 3 (Bloomberg) -- Investor Simon Halabi ’s real-estate companies failed to remedy a default on 1.15 billion pounds ($1.9 billion) of commercial mortgage bonds at a time when, according to Fitch Ratings, “pretty much” all such European deals would breach loan-to-value conditions if they were tested.

Owe more than your home is worth? You can still refinance, but it's complicated (Seattle Times)
The federal government's Home Affordable Refinance program is designed to help homeowners refinance their mortgages, even if they owe slightly more than their home is worth. B ut it applies only to loans owned or guaranteed by Fannie Mae or Freddie Mac and the rules are complex.

New refinance rules should help in Arizona (The Arizona Republic)
Feds have extended a program to aid borrowers.

Why those who can pay walk away from mortgages (MENAFN)
Why those who can pay walk away from mortgages

Lowball Appraisals Spark Uproar (Washington Post)
It's by far the hottest controversy in real estate this summer, and it could directly affect the value of your house -- probably negatively -- by tens of thousands of dollars.