Mortgage Crisis, Homeowner | featured news

Daverena White took a chance on the American dream of homeownership -- and lost big.

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.

Almost half of U.S. homeowners with a mortgage are likely to owe more than their properties are worth before the housing recession ends, Deutsche Bank AG said.

The Treasury said less than 10% of eligible borrowers have received trial modifications under the White House's effort to help struggling homeowners.

With Financial pressures and the threat of mortgage foreclosures rising, the number of illegal scams targeting homeowners is also increasing.