In a recent federal crackdown, alleged criminals were accused of illegally charging up-front fees while claiming to be affiliated with government agencies or programs. Continue Reading »

By Jim Avila and Serena Marshall Linda and Jim McMahan said that they could not believe their luck in 1993 when they found their dream house. "We loved it," she said. "It wasn't a huge house, but it was a nice size. ... It had the big trees in the yard. And we have deer in the yard every day, and wild turkeys. ... Continue Reading »

HUD's sale of thousands of delinquent home mortgages could help a sizable pool of homeowners -- but leave many more out of luck. Continue Reading »

The housing market's downturn was so severe that it has taken years to even begin approaching pre-meltdown normalcy, but as it improves, more homeowners are finding themselves in much better financial positions. During the third quarter of the year, negative equity in the housing market took a sizable tumble, according ... Continue Reading »

More than 4 out of 5 consumers who took the time to refinance their home loans either maintained the same loan amount or were able to slash their principals by paying more money into the balance, a new report says. Continue Reading »

Stone Mountain, Ga., resident Kimberly Smith was shocked at how little she saved from her loan modification. Continue Reading »

In the past few years, the federal government, and specifically the Obama administration, has made a number of efforts to improve the housing market through regulatory controls, and new data shows these have really paid off for lenders. Continue Reading »

Meet people who, despite having good credit and making their payments on time, are stuck paying a high-rate mortgage of 6 percent or more on their loans. Continue Reading »

By Jon Prior The expanded Home Affordable Refinance Program will likely reach more underwater borrowers than its architects originally thought. "We said we would double the number from what we've already done under HARP, which would mean we'd do another 900,000 under the expanded program. I think we're actually ... Continue Reading »

By Marcy Gordon WASHINGTON -- The average U.S. rate on a 30-year fixed mortgage fell this week to a record low for the seventh time in eight weeks. Cheap mortgages have helped drive a modest recovery in the weak housing market this year. Mortgage buyer Freddie Mac said Thursday that the average on the 30-year loan ... Continue Reading »

Almost a third (31.4 percent) of homeowners with mortgages are underwater, according to the 2012 first-quarter Zillow Negative Equity Report, yet 90 percent of them are current on their mortgages and continue to make payments. Deciding whether to "stay and pay" on a home that's worth less than you owe is a tough financial ... Continue Reading »

By Marcy Gordon WASHINGTON -- Average U.S. rates on 30-year and 15-year fixed mortgages this week fell to fresh record lows for the sixth straight week. Cheap mortgages continue to help boost prospects for home sales this year. Mortgage buyer Freddie Mac says the average rate on the 30-year loan dropped to 3.67 ... Continue Reading »

WASHINGTON -- The average rate on the 30-year fixed mortgage dropped near its all-time low this week, making homebuying and refinancing a bargain for those who can qualify. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan fell to 3.88 percent from 3.98 percent. That's just above the rate of 3.87 ... Continue Reading »

WASHINGTON -- President Barack Obama is aiming mortgage relief at members of the military as well as homeowners with government-insured loans, the administration's latest efforts to address a persistent housing crisis. In his first full news conference of the year Tuesday, Obama was to announce plans to let borrowers ... Continue Reading »

By Jon Prior Even if the promising mortgage refinancing plan that President Obama announced Tuesday night passes Congress, critics say it will fall short of solving the deepest housing problems. The White House did not release great amounts of detail, but the plan would help homeowners current on their mortgage to ... Continue Reading »