In an effort to cut their losses, banks are paying some struggling homeowners as much as $35,000 to sell their homes before they end up in foreclosure.
The nation's five largest banks have finally struck a deal with 49 states to settle charges of abusive and negligent foreclosure practices dating back to 2008.
In the largest deal to date aimed at addressing the housing meltdown, federal and state officials on Thursday announced a $26 billion foreclosure settlement with five of the largest home lenders.
New York and California will join just about all the other states in a settlement with the nation's largest banks aimed at helping homeowners struggling with loans bigger than the value of their homes, according to a person familiar with the talks.
Laurie Goodman is an apolitical number cruncher who has spent most of her 28-year career out of the public view, studying the minutiae of mortgage-backed securities (MBS) for big investment banks. She's long been a star among Wall Street insiders, however. She holds the record for the most top rankings for fixed-in-come research from the trade bible Institutional Investor.
More than 40 states have signed on to a draft deal settling claims of improper mortgage servicing that's aimed at relieving homeowners struggling with loans bigger than their home's value.
States have until late Monday to agree to the latest draft deal aimed at relieving homeowners struggling with mortgages bigger than their home's value.
Lean times call for budgetary triage. But while you should clearly opt for orthodontics before Disneyland, the choice is tougher when it comes to home maintenance.
Just one day after President Obama detailed a proposal to enable millions of homeowners to refinance to record-low mortgage rates, those rates notched another record.
The Obama administration on Wednesday detailed its latest plan to help millions of homeowners refinance their mortgages to today's historically-low rates.
Florida's cities were some of the hardest hit by the housing bust, but now they are leading the charge back. Of Realtor.com's top 10 turnaround towns, eight are in the Sunshine State.
You'd think that investors would be leery of companies that own and manage commercial real estate. Vacancy rates remain elevated in office buildings and shopping centers. Except for apartment buildings, rents really haven't grown at all in four years. And given the possibility that the global economy may retrench yet again, things could still get worse before they get better.
Investors are racing into REITs that promise higher yields than equity REITs. But be forewarned, the higher yields of these other types of real estate vehicles come with very real risks.
Between slumping prices and low mortgage rates, it's a good time to look for real estate bargains. But thanks to tightened lending standards, legions of young would-be homebuyers aren't exactly in a position to take advantage of the opportunity. That's where their parents come in: One in three first-time buyers received either a gift or a loan from their families to help buy a home in 2011, according to the National Association of Realtors.
Home prices posted a steep, month-over-month drop in November, falling 1.3%, according to the latest S&P/Case-Shiller 20-city report. Prices fell in 19 of the 20 cities the index covers.
