Dec 13th 2011 9:00AM
LAS VEGAS -- A new federal report shows that speculative real estate investors played a larger role than originally thought in driving the housing bubble that led to record foreclosures and sent economies plummeting in Nevada, California, Arizona, Florida and other states. Researchers with the Federal Reserve Bank of New... Continue Reading »
Dec 2nd 2011 12:35PM
By Matt Sledge MIAMI -- Sergio Palacios doesn't have the typical South Florida foreclosure story. He doesn't live in a McMansion in some suburban subdivision. He wasn't tricked into a mortgage he couldn't afford. In fact, he doesn't own a home at all. He's a tenant. But for the last five months and counting, Palacios,... Continue Reading »
Nov 21st 2011 4:22PM
Blacks and Hispanics with credit scores higher than 660 received subprime and option adjustable-rate mortgages three times as often as white borrowers in similar financial standing between 2004 and 2008, according to a new study from the Center for Responsible Lending. The center studied the loan quality, borrower... Continue Reading »
Oct 10th 2011 8:30AM
Half of borrowers with prime loans -- or loans made to borrowers with good credit and income -- will likely end up underwater anyway, according to a recent report. Already more than one-third of prime mortgage loan borrowers are underwater or owe more on their homes than they're worth and with home prices expected to... Continue Reading »
Jun 7th 2011 10:00AM
The nation's largest mortgage companies are operating on the assumption that they will have to pay as much as $20 billion to resolve claims of widespread foreclosure abuse, an amount four times what they originally had proposed, the top federal official overseeing the discussions told state officials Monday, according to... Continue Reading »
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