Six former Bank of America employees have alleged that the bank deliberately denied eligible home owners loan modifications and lied about mortgage payments and documents.
Bill Pulte, whose family built PulteGroup into the top U.S. homebuilder, says the way to revive Detroit is to raze half of it and consolidate.
Sales of bank-owned homes have plunged to a 5-year low, the latest evidence that the nation's foreclosure woes are easing as the U.S. housing market recovery gains momentum.
There is no federal program to help the needy feed their cats and dogs, but one enterprising entrepreneur has stepped in to fill the void by creating food stamps for pets.
The number of homes repossessed by lenders last month fell to the lowest level in more than five years, the latest evidence that the nation's foreclosure crisis is abating.
Many of the U.S. economy's vital signs have recovered from the damage done by the Great Recession, but some measures have a way yet to go.
Despite the new housing construction boom, there are still lots of empty foreclosures out there, which banks have been trying to rent. But now, Wall Street wants to bundle those rental properties into securities and sell them to investors. Does this sound disturbingly familiar?
Homeowners who took on mortgages well after the housing bubble burst are doing a better job in keeping up with payments, a trend that has helped push the national rate of late payments on home loans to the lowest level in four years.
U.S. home prices rose 8.3 percent in December compared with a year earlier, according to data Tuesday from CoreLogic, a real estate data provider. That is the biggest annual gain since May 2006. Prices rose last year in 46 of 50 states.
The agreements announced Wednesday with the Federal Reserve were similar to deals struck earlier this month with 10 other major banks and mortgage lenders, relating to wrongful foreclosures. Combined, the 12 firms will pay more than $9 billion.
Ten major banks and mortgage companies have agreed to pay $8.5 billion to settle complaints that they wrongfully foreclosed on homeowners. Under the settlement, people who were wrongfully foreclosed on could receive from a few hundred dollars up to $125,000.
Together, Mike and Lora Zook have faced cancer, a disabling accident, a crippling genetic disease, and even a fire that almost destroyed their home. What they couldn't face was the idea of losing their home to foreclosure.
When even a single home goes into foreclosure, the effects can be far reaching. In the case of Dee, when she faced foreclosure on her home in Prince George's County, Maryland, the potential hardship extended well beyond her immediate family.
The wave of foreclosures hitting the nation's housing market has been much less severe than anticipated, with foreclosure filings at their lowest level in five years last month, according to a report out Thursday.
In 2008, when the foreclosure crisis was raging, Simone Griffin spent her days counseling homeowners behind on their mortgage payments, and her nights worrying about the precarious state of her own finances: $32,000 in debt on two credit cards. Then came her "scared straight" moment.
Home prices kept rising in July across the United States, buoyed by greater sales and fewer foreclosures. National home prices increased 1.2 percent in July, compared to the same month last year.
This fall, as Americans prepare to mark their ballots, Republicans are hoping that voters' minds will be focused on one (and only one) simple question: Are you better off today than you were four years ago? Unfortunately for the GOP, the answer isn't quite as clear as they'd like.
Legally, banks are forbidden to foreclose on the homes of our nation's deployed servicemembers, and they're supposed to cut them a break on credit card interest, too. Seems Capital One has been breaking those rules -- but it may not be a scandal.
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 can get cash payments in 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.
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.