underwater mortgages

Nearly every homeowner has some ideas for a makeover, but with the housing market as it is, many of us have chosen to put them on hold. Now, there are positive signs on the horizon that might encourage you to break out the tools.

Here's more evidence that the foreclosure crisis has changed the way we think about home ownership's place in the American dream. Nearly half of those polled in a newly released survey said that owning a home today was a "nightmare." But not all polls reflect such a pessimistic view.

Today's record-low mortgage rates are out of reach for millions of U.S. homeowners who would benefit from them most. These "underwater" borrowers have virtually no shot at refinancing. Their plight is a drag on the housing market and the broader economy.

WASHINGTON (AP) - Today's record-low mortgage rates are out of reach for millions of U.S. homeowners who would benefit from them most. One in four homeowners with a mortgage - 11 million people - owe more than their home is worth. These "underwater" borrowers have virtually no shot at...

Seeking to circumvent congressional opposition, President Barack Obama will announce a series of executive branch steps aimed at jumpstarting the economy this week, beginning with new rules to make it easier for homeowners to refinance their mortgages.

The young, upwardly mobile professional was the defining American character in the 1980s, and caused us to coin the word "Yuppies." Today, the dominant trajectory is the reverse: Downward mobility, unemployment and poverty are the defining themes. We're in the Dumps -- so are Dumpies the new Yuppies?

It's no secret that now seems like a good time to buy a home: Affordability is high and interest rates are low. But those positives aren't translating into sales. Why? Mortgage issues and down payments remain choke points for buyers.

More people have been selling their gold jewelry in the past year, many to cover expenses, others to just to take advantage of record high prices. Prices have dipped a bit from their recent highs, but expect more people to sell in the months ahead, and expect the prices to rise again.

Attitudes toward mortgage default are shifting in America. People who've never missed a payment on anything in their lives are walking away from underwater homes, even when they can afford their monthly payments, because staying doesn't make financial sense. But how good a business decision is a strategic default?

Financial advice columnist Laura Rowley recently received an email from a homeowner who had negotiated a successful mortgage modification, but may end up as a short-sale candidate anyway -- because she can't finance home repairs. Her options are limited, but possible solutions do exist.