Nov 1st 2011 6:00AM
President Obama recently announced he would extend the nation's mortgage refinancing program in an effort to provide relief to homeowners whose mortgages are worth more than the value of their homes. With 11 million underwater households no one can claim the housing crisis over. However, some regions have survived the... Continue Reading »
May 31st 2011 12:15PM
The average price of a single-family home reached a new low in the first quarter and is now at 2002 levels, according to the Standard & Poor's/Case-Shiller index. The downturn is the most acute since prices began falling several years ago. The index fell 4.2 percent in the first three months of 2011, after declining... Continue Reading »
May 11th 2011 1:15PM
The nation's five largest mortgage lenders may be forced to reduce loan balances for distressed homeowners as part of an agreement with state attorneys general and the Obama administration to settle claims of faulty mortgage practices, a top state official involved in the negotiations said Tuesday. The proposal is part of... Continue Reading »
May 10th 2011 12:55PM
Existing home sales continued on an upward though unsteady path in the first quarter of this year, thanks in large part to sales of foreclosures and other discount properties. Home sales rose in 49 states and Washington, D.C., according to a report released Tuesday by the National Association of Realtors. Total existing... Continue Reading »
May 9th 2011 2:32PM
As the federal government wades deeper into claims of improper foreclosure procedures at the nation's largest banks, a new scandal is emerging. An investigative series by ProPublica has revealed that several lenders are forcing distressed homeowners to sign away their rights to sue in exchange for a temporary loan... Continue Reading »
