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Obama to Congress: Pass housing bill

Housing Market

Seeking to make Congress a major issue in his re-election bid, President Obama called on lawmakers today to pass a bill designed to help struggling homeowners re-finance their properties.

 

Late payments on mortgages hit 3-year low in 2Q

U.S. homeowners are getting better about keeping up with their mortgage payments, driving the percentage of borrowers who have fallen behind to a three-year low, according to a new report.

 

Report: Some lose homes over as little as $400

The elderly and other vulnerable homeowners are losing their homes because they owe as little as a few hundred dollars in back taxes, according to a report from a consumer group....

 

Wrongful-Foreclosure Compensation For Homeowners Could Be As Low As $500

Foreclosure Settlement

For homeowners trying to get reparations in the wake of the foreclosure crisis, it's been a hit-or-miss experience. This week, another group of Americans bruised in the housing bust will get payouts from the banks, money meant to help them get on their feet again, but the cash may prove disappointing for many.

 

May sees pickup in homes facing foreclosure risk

Lenders initiated foreclosure proceedings against more U.S. homeowners in May, setting the stage for increases in home repossessions and short sales - scenarios that could further weigh down home values in coming months....

 

BofA tries turning distressed homeowners into renters

Mortgage-to-lease

Bank of America is testing a mortgage-to-lease program in four states. The idea: Instead of evicting homeowners who face foreclosure, it lets them stay as tenants and sells the homes to investors.

 

Negative equity remains a drag on housing market

Underwater Mortgage

Nearly 1 in 3 homeowners with a mortgage in L.A. County owes more than the property is worth, new data show. These underwater loans hinder mobility and hurt prices because they tend to stymie the important move-up market.

 

Obama to tout success of mortgage refinancing

Barack Obama

President Obama will announce new figures Friday showing a dramatic spike in the number of Americans taking advantage of federal programs designed to help struggling homeowners and stabilize the lagging housing industry, administration officials said Thursday.

 

Solar Installers Offer Homeowners Deals, Gaining Converts

Solar Energy

Installers, often working through big-box chains, are taking advantage of hefty tax breaks, creative financing and cheap Chinese-made panels to make solar power accessible to the mass market.

 

Why You Might Never Want to Pay Your Mortgage Off

Paying Off Mortgage

A couple of weeks ago, I responded to a couple of questions about paying off your mortgage early. This week, I got the opposite question. Given record low mortgage rates, does it even make sense to ever pay off your mortgage at all?

 

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