Tag: subprime

  • Some Lose Homes Over as Little as $400

    Some Lose Homes Over as Little as $400

    By Daniel Wagner WASHINGTON -- The elderly and other vulnerable homeowners are losing their homes because they owe as little as a few hundred dollars in back taxes, according to a report from a consumer group. Outdated state laws allow big banks and other investors to reap windfall profits by buying the houses... Continue Reading

  • Mortgage Fraud Jumps 17 Percent

    Mortgage Fraud Jumps 17 Percent

    After a two year lull in response to the subprime mortgage crisis, lending fraud is back with a vengeance. A new report by research firm CoreLogic shows that mortgage fraud rose 17 percent last year. In comparison, fraud dropped a total of 57 percent in the two years following its peak in 2006. While the... Continue Reading

  • Changes in Store for FHA-Backed Loans, Says Commissioner

    Changes in Store for FHA-Backed Loans, Says Commissioner

    The Federal Housing Administration has become a lifeline for the flagging housing market. Nearly half of all first-time buyers looked to the agency for home loans in the second quarter of last year. With that kind of demand, is the FHA becoming a risk for the U.S. taxpayers who back it? And what's the best way... Continue Reading