If America's subprime mortgage crisis was an earthquake, Las Vegas would be the epicenter: No U.S. city has suffered more. But all that devastation makes for great TV. Or at least CNBC hopes so, because it's mining that economic disaster for "Flipping Wars: Vegas."
Since the housing crash, millions of Americans have lost their homes, many of them victims of improper foreclosures. Now, those unfairly evicted homeowners are getting compensation. But don't be concerned that they're getting more than they deserve.
Homes in some stage of the foreclosure process saw their share of U.S. home sales grow in the first quarter even as sales of bank-owned homes fell. The increase was driven by a spike in short sales, or homes that sell for less than what the owner owed on their mortgage.
An Australian newspaper reports that a 17-year-old was helping her grandma count her savings when she decided to snap a photo of some wads of cash and post it to Facebook. Not long after, a pair of robbers arrived at her family's home.
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.
Janet's a lawyer who's losing her home, and she knows: When it comes to foreclosure, bureaucracy and paperwork can be your friends. Her foreclosure process has lasted for nearly 900 days, and counting. For homeowners in dire financial straits, her story is a lesson in how to keep a roof over your head as long as possible.