Mar 5th 2012 10:20AM
Only about 1 in 20 underwater homeowners may qualify for principal reduction under states' recent settlement with five big banks, a new study says. A calculation by a Brookings Institution economist narrowed down the pool of underwater homeowners to 500,000 who could qualify for principal reduction from the $25 billion... Continue Reading »
Dec 28th 2011 12:00PM
By Les Christie NEW YORK (CNNMoney) -- Delinquent borrowers facing foreclosure are learning that they can stay in their homes for years, as long as they're willing to put up a fight. Among the tactics: Challenging the bank's actions, waiting to file paperwork right up until the deadline, requesting the lender dig up... Continue Reading »
Sep 30th 2010 11:27AM
Some good news from Debt City, U.S.A.: The rate of serious delinquencies on conventional mortgages -- those that are at least 90 days behind -- fell to 4.82 percent in July, from 4.99 percent in June. Freddie Mac's delinquency rate dropped to 3.83 percent in August, from 3.89 percent in July. Fannie Mae's delinquency rate... Continue Reading »
Jul 23rd 2010 5:03PM
It's sad but true. Americans are increasingly filing for bankruptcy in order to avoid foreclosure. Katherine Porter, a bankruptcy expert at Harvard Law School, estimates that 75 percent of Chapter 13 filings fall into this category. "Despite all the government programs, bankruptcy is probably the most commonly used... Continue Reading »
