Tuesday, July 31, 2007
AHM - American Home Burns Down
American Home Mortgage (AHM - Cramer's Take - Stockpickr - Rating) plunged 84% after hiring investment bankers to consider options that could include "the orderly liquidation of its assets."
American Home said it couldn't fund lending obligations of $300 million Monday, plus an added $450 to $500 million as of Tuesday...
The company is the latest lender to be hit by rising defaults among home buyers with shabby credit histories...
American Home said it couldn't fund lending obligations of $300 million Monday, plus an added $450 to $500 million as of Tuesday...
The company is the latest lender to be hit by rising defaults among home buyers with shabby credit histories...
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