Nov 9th 2010 9:00AM
Last year was difficult for Adline Peck and her husband. Peck, who lives in Inkster, Mich. was battling medical issues, and her husband had been laid off from work. Though they struggled to make their monthly mortgage payments, they continued to try their best, even if it meant sending in payments a week or two late.... Continue Reading »
Oct 25th 2010 2:25PM
In 2010 an estimated 4 million homes will be slapped with foreclosure notices, making it the worst year yet for foreclosures during the housing crisis. And without a strong economic recovery the numbers could continue to escalate, leaving more Americans unable to afford their homes. One way to turn back the tide is with... Continue Reading »
Jan 4th 2010 8:00AM
Will the cramdown survive into the next decade? Banks have successfully lobbied against many proposed financial reforms, but perhaps none more strenuously than the cramdown -- a court-ordered reduction of a mortgage loan's outstanding principal. Although lowering principal is arguably one of the most effective ways to... Continue Reading »
Dec 17th 2009 2:00PM
Get this: Citigroup wants to make sure that its customers -- those on the verge of being booted out of their homes -- have a less stressful holiday. So the beleaguered bank has decided to give them a holiday reprieve by suspending foreclosures and evictions for up to 30 days. "We want our borrowers to have a much less... Continue Reading »
Nov 30th 2009 5:05PM
Amid rising foreclosures and public outrage over taxpayer-funded handouts to banks, the Obama administration is trying to put some teeth into its program to help ailing homeowners. The Home Affordable Modification Program (HAMP), announced in February, dangled financial incentives to banks and mortgage servicers willing... Continue Reading »
