Foreclosures

Houses are cheap. Interest rates are low. And the economy is improving. Even Warren Buffett says that housing might be the best investment today. So should you run out and buy a home? Not necessarily.

Mortgage giant Fannie Mae says it made $2.7 billion in the first quarter, the first time it has had a net income gain since it was taken over by the government during the 2008 financial crisis.

Home prices dropped in February in most major U.S. cities for a sixth straight month, a sign that modest sales gains haven't been enough to boost prices, according to the S&P/Case-Shiller Index.

Faced with the prospect of becoming the biggest municipal bankruptcy in U.S. history, Stockton, Calif., decided on a novel gambit: They just stopped paying some of their bills.

The recession and its hangover have turned our bill-paying habits upside down. Cash-strapped Americans are paying off their car loans before they pay credit card bills and make mortgage payments, a TransUnion study finds.

Sales of U.S. new homes fell in February for the second straight month, a reminder that the depressed housing market remains weak despite some improvement. But the Commerce Department also reported some positive signs.

During the heady days of the real estate bubble, many congregations took out 5-year loans to refurbish and enlarge their churches. Now, with balloon payments due, real estate values down, and refinancing not an option, church foreclosures have hit record highs.

The nation's five largest mortgage lenders have agreed to overhaul their industry after deceptive foreclosure practices drove homeowners out of their homes, government officials said Monday. A draft settlement between the banks and U.S. states has been sent to state officials for review.

Atlanta's Bank of America Plaza is one of the 10 tallest structures in the U.S. And thanks to troubles at its namesake bank and other one-time tenants, the skyscraper could be one of the tallest foreclosure tales of the financial crisis.

Americans' economic health appears to be edging closer to code red: The Consumer Distress Index fell sharply in the third quarter, indicating that more of us are falling behind financially.