Mortgage Rescue, Housing Market | featured news

Despite a flurry of recent changes to the program, the Congressional Oversight Panel, chaired by Harvard Prof. Elizabeth Warren, outlines a slew of criticisms in a new report to be released today.

Bank of America will on Wednesday announce plans to start forgiving mortgage loan principal for troubled homeowners who owe more than 120 percent of their home's value or are battling ever-expanding "negative amortization" loans.

The average homeowner in the Obama administration's signature foreclosure-prevention program owes more on their mortgage than the home is worth, yet the program does virtually nothing to address this problem, according to a scathing new report by a government watchdog.

More than 170,000 troubled homeowners are breathing a lasting sigh of relief now that they've received permanent modifications under the Obama administration's foreclosure prevention program.

An emergency assistance program that saves thousands from foreclosure each year is in the national spotlight.

Uncle Sam is trying to get out of the business of running the U.S. mortgage market. The trick will be withdrawing support without toppling the nation's fragile housing recovery in the process.

After a slow start, the Obama administration's mortgage relief program has reached one in five eligible homeowners, a government report says.

The Obama administration’s effort to help homeowners avoid foreclosure may not achieve its goal of helping 3 million to 4 million borrowers, a government watchdog group says.

Half a million troubled homeowners have seen their loan payments lowered under an Obama administration program.

The case of Carrington Mortgage shows how some loan modifications benefit only the lender.