Homeowners in higher housing brackets have fewer mortgages underwater, but at the other end, more borrowers are falling into foreclosure.» Read More
CNBC's Diana Olick has the details on the Senate Banking Committee hearing on the Federal Housing Finance Agency and new information out of the FHA.
In California, a raft of foreclosures has presented an unusual housing opportunity for thousands of college students, who can rent McMansions for a song. The New York Times reports.
More U.S. homes entered the foreclosure process in October than in the previous month, with Florida, Pennsylvania and Indiana registering among the largest monthly increases, new data show.
Over 50 percent of all mortgaged households in the US are effectively underwater — unable to sell for enough to pay the six percent Realtor's fee and put a down payment on a new home, a mortgage analyst says.
However long they were married, the price of breaking the contract was huge -- sometimes even reached nine figures.
It's late, and it's limited, but for borrowers who feel their homes were wrongly or inappropriately foreclosed upon in 2009 and 2010, there is now recourse.
A new plan to help the housing market could make foreclosed homes a sought after commodity, with CNBC's Diana Olick.
What's weighing on confidence are still-falling home prices, and what's pushing those home prices down are foreclosures. That's why the Obama Administration is pushing a potential plant to auction off foreclosed properties in bulk to investors.
"President Obama is taking action." At least that's what the blog on the WhiteHouse.gov says today in describing the president's trip to Las Vegas. "We can't wait to help homeowners," it goes.
“For two years I kept thinking that things would get better,”one Florida homeowner tells the New York Times. “Now I think the future doesn’t look so good.”
Despite the furor, the threats, and the big bank blame game, there is still no settlement between the "robo-signers" and the fifty state attorneys general who promised payback for borrowers. Now, as talks are allegedly in their final phase, according to a source very close to the process, the AG's have thrown in another wrench, or perhaps they're throwing a bone.
I'm here today doing a story on Bank of America's new program to demolish some of these homes and donate them back to the city. They expect to do a mere 150 over the next two years, which is really a drop in the bucket when you go on foreclosure websites and see thousands of these properties for sale, with many more coming.
The average rate on the 30-year fixed mortgage rose sharply this week after falling below 4 percent for the first time in history.
Bank seizures of US homes fell in the third quarter but an upswing in default notices suggests foreclosures could start to rise again, a report by RealtyTrac said on Thursday.
From falling home values and impaired labor mobility, to backed-up inventories and a flood of foreclosures, there are countless ways that real estate affects the economy at large.
Coldwell Banker surveyed its 12,000 agents to get their view on how the baby boomer generation is looking at the real estate situation. Jim Gillespie, Coldwell Banker CEO analyzes how the results play into the housing market.
The federal government will disburse just $432 million from a $1 billion program to help unemployed homeowners avoid foreclosure, a government official said Thursday. USA Today reports.
The Securities and Exchange Commission is investigating Royal Bank of Scotland, Credit Suisse and other financial institutions for their handling of problem mortgage loans, according to public disclosures and people familiar with the matter. The FT reports.
I can't get off the phone with anyone I know without first having to hear about their particular mortgage story; Okay, maybe that's an exaggeration, but not that far off.
It was just hitting 105 degrees in Dallas when Phillip Carter herded a group of Australian investors onto a bus and headed out to see some previously foreclosed properties. Cowboy to cowboy, Carter tells them the Dallas market is ripe for profit, as rental demand surges and rents head higher. The difference in his business model is that the cash is ready to flow, immediately.