Scarcely have the Christmas presents been unwrapped than tens of thousands of people across the U.K. go online to find their dream home.» Read More
The five biggest US mortgage servicers were told this week at a private meeting with regulators to consider paying delinquent borrowers up to $21,000 each as part of a broader settlement of the foreclosure crisis. The Financial Times reports.
The sales pace of newly built homes is now at the lowest on record. Sales dropped nearly 17 percent in February after a big drop in January. Put that on top of the nearly 10 percent February drop in existing home sales reported earlier this week and the incredibly low level of mortgage purchase applications, and you get a clear case for a double dip in housing.
In what may be the best anti-bank rant yet, North Carolina realtor Leigh Brown goes off on Bank of America.
The CNBC All-America Economic Survey finds deep pessimism about future economic growth enveloping Americans as they hunker down from the effects of higher gas and food prices and fear that those prices could remain elevated for years.
If history repeats itself, the worldwide stock market could tumble even more this Friday—a week after a Japan was devastated by an earthquake and tsunami, Yale economist Robert Shiller told CNBC Monday.
The mortgage market is currently mired in policy and politics that could directly affect buyer decisions on Main Street, at a time when the housing market remains in a slump.
Amid all the doom and gloom, it is hard for many think of real estate as anything other than a money pit; for some, however, it is an opportunity, and, hopefully, a well of profit to be tapped. It's the optimistic, even opportunistic, side we're focusing on in our annual special report, "Investor Guide to Spring Real Estate".
Six months after the Federal Housing Administration announced an $11 billion refinancing initiative for these “underwater” borrowers, nearly two dozen lenders have agreed to take part in a new loan modification program,the New York Times reports.
Investors bidding up bank stocks and protestors reaming state attorneys general over a proposed foreclosure settlement seem to agree on one thing: his would be a big win for banks.
The Obama Administration’s $20 billion proposal to try to force banks to modify mortgages looks an awful lot like an attempt to revive the $20 billion bank tax that was rejected during the negotiations over Dodd-Frank.
There is no multi-billion dollar fund or penalty and there is no word from Federal Regulators as to how the banks will ultimately "fix" the foreclosure paperwork issues...But a meeting here in DC of the fifty state attorneys general was too good to pass up for a couple of hundred protesters demanding action.
The second leg of the US housing downturn will continue throughout the year and could be nasty if a vicious circle of falling prices and rising foreclosures continues, according to Capital Economics.
Wells Fargo is finally returning phone calls to the Philadelphia homeowner who began foreclosure proceeding against one of its branch offices—and the homeowner, Patrick Rodgers, feels very strongly that yesterday's article on NetNet precipitated their telephone call.
You read the headline correctly: A homeowner has begun foreclosure proceedings on a local Wells Fargo Office in Pennsylvania.
New York court officials outlined procedures Tuesday aimed at assuring that all homeowners facing foreclosure were represented by a lawyer, a shift that could give tens of thousands of families a better chance at saving their homes. The New York Times reports.
JPMorgan Chase on Tuesday announced new programs geared toward military customers and veterans, and apologized for overcharging thousands of active-duty service members on mortgages and improperly foreclosing on more than a dozen.
The Obama administration and House Republicans are settling into a game of chicken over Fannie Mae and Freddie Mac, with each side daring the other to advance a plan. The NYT reports.
Despite signs of a stabilizing housing market housing, the foreclosure problem is still huge.
In recent years, numerous private equity firms have taken large stakes in the back-office operations of law firms specializing in foreclosure, often called foreclosure mills. The private equity firms then make money by providing those services back to the law firm for a fee. The NYT reports.
It's the next big shoe to drop in the robo-signing foreclosure scandal. Call it part two.