Jan 25th 2012 1:30PM
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 »
Oct 25th 2011 11:00AM
WASHINGTON -- Today's record-low mortgage rates are out of reach for millions of U.S. homeowners who would benefit from them most. One in four homeowners with a mortgage -- 11 million people -- owe more than their home is worth. These "underwater" borrowers have virtually no shot at refinancing. Their plight is a drag on... Continue Reading »
Oct 24th 2011 10:40AM
By Nick Timiraos The Obama administration is revamping a program that's designed to let more homeowners refinance their mortgages even if they don't have any equity. This isn't a new program, but instead attempts to turbo-charge an existing federal initiative called the Home Affordable Refinance Program. Here's a look at... Continue Reading »
Nov 5th 2010 4:00PM
More Americans find themselves in a position of negative equity -- owing more on a mortgage than the home is currently worth. By itself, negative equity isn't necessarily trouble. Those who can afford their monthly mortgage payments and have a safe loan structure can wait out the market until home values improve. For... Continue Reading »
Aug 24th 2010 4:31PM
It's not every day that a successful investor takes the national stage to suggest that he should lose billions of dollars for the greater good. But that's what Bill Gross of the bond giant PIMCO did last week at the Treasury and HUD conference on the future of the housing finance system. Gross unleashed a bold proposal... Continue Reading »
