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The foreclosure crisis likely will persist well into next year as high unemployment pushes more people out of homes, pulls down housing prices and raises concerns about the broader economic recovery.
Construction of new homes unexpectedly plunged last month, as builders waited to see whether lawmakers would extend a tax credit for homebuyers.
Shontaye Edwards spends her day in a gray cubicle at a Bank of America call center in this Dallas suburb. On the other end of the phone line are homeowners — tense, exasperated and looking for help.
The Federal Housing Administration's financial cushion has fallen to a dangerously low level, but government officials maintain the agency should avoid a taxpayer bailout under "most economic scenarios."
The Obama administration's mortgage relief program has reached one in five eligible homeowners, a government report says, but most of those borrowers are on temporary trial plans that have yet to be made final.
Freddie Mac's losses narrowed to $6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion.
Fannie Mae is asking for an additional $15 billion in government aid after posting another big loss in the third quarter as the taxpayer bill from the housing market bust keeps rising.
Can't pay the mortgage? You still might be able to stay in your home. Government-controlled mortgage company Fannie Mae is going to give borrowers on the verge of foreclosure the option of renting their homes for a year.
Your home doesn't have to stop looking snazzy when dusk turns to darkness.
The volume of signed contracts to buy previously occupied homes rose for the eighth straight month in September as buyers scrambled to take advantage of a tax credit for first-time owners that expires at the end of this month.
Sales of new homes dropped unexpectedly last month as the effects of a temporary tax credit for first-time owners started to wane.
Racing to complete their purchases before a tax credit for first-time owners expires, homebuyers pushed sales up last month by the largest amount in more than 26 years.
Rates for 30-year home loans have inched up, hitting 5 percent for the first time in nearly a month after bond yields edged up.
The government's mortgage insurance agency is doing a poor job of screening lenders that enter the program, an internal audit has found.
Rates for 30-year home loans have inched up, hitting 5 percent for the first time in nearly a month months after bond yields edged up.
The number of households caught up in the foreclosure crisis rose more than 5 percent from summer to fall as a federal effort to assist struggling borrowers was overwhelmed by a flood of defaults among people who lost their jobs.
The Obama administration's effort to help homeowners avoid foreclosure may not achieve its goal of helping 3 million to 4 million borrowers and may simply delay mortgage defaults for many, a government watchdog group says.
Aspiring homebuyers rushed to take advantage of a tax credit for first-time owners that expires in November, driving up the number of signed sales contracts for the seventh straight month in August.
Nearly one in three borrowers who applied for a mortgage last year was denied as lenders kept their standards tight as the mortgage crisis accelerated, the government reported Wednesday.
Lenders are ramping up efforts to avoid home foreclosures, but a report by bank regulators says more than half of borrowers who get help fall behind again.
The housing market is making a comeback, but it's not impressing anybody. New home sales rose a tepid 0.7 percent last month, missing Wall Street expectations.
Four steps forward, one step back.
Dial back the pie-in-the-sky projections.
The Federal Housing Administration is tightening rules for lenders after reporting that its financial cushion will sink below mandatory levels for the first time in its 75-year history.
The head of the Federal Trade Commission said Thursday the agency is considering banning upfront payments to companies that advertise help for borrowers who are in trouble on their home loans.
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