Housing Crisis, Foreclosure | featured news

U.S. home foreclosure activity galloped to a record in the first half of the year, overwhelming broad efforts to remedy failing loans while job losses escalated.

U.S. officials are weighing a plan to let borrowers who have fallen behind on mortgage payments avoid eviction by renting their home instead, sources familiar with the administration's thinking said on Tuesday.

If nothing else, the legal maneuver will buy them some breathing room. But it also will destroy their credit rating, and it may not even be necessary.

To most people, bankruptcy is a four-letter word.

Existing home sales in the U.S. rose in May for a second month as record foreclosures caused prices to drop.

Housing advocates who work with homeowners say that while President Obama’s loan modification program could help thousands of New Yorkers, it has been slow to get off the ground.

The foreclosure crisis has emptied neighborhoods with once-gleaming pools, now sitting caked with algae, infested with mosquitoes. The problem has grown so dire, environmental health specialists in Western states have turned to mosquitofish to police the stagnant waters; for the little silvery creatures a batch of larvae is like a prime-rib buffet.

The Obama administration is expected to expand its mortgage aid program on Thursday, announcing new measures that would help ...

U.S. foreclosure activity in April jumped 32 percent from a year ago to a record high, and should mount because temporary freezes on foreclosures ended in March, RealtyTrac said on Wednesday.

The Senate today approved a housing bill aimed at addressing the country's growing foreclosure problem, including revamping a troubled government foreclosure prevention program.

Brad Ramos, the police chief of Indio, Calif., population 79,000, does everything he can to contain his town's foreclosure epidemic. In a town where on the worst streets, 75% of homes are in foreclosure, Ramos hopes that if he can keep the neighborhoods looking presentable, he might be able to hold out long enough for when buyers return.