Housing Market, Foreclosure | featured news

Relief checks issued as part of a settlement over foreclosure abuses have bounced, an unfortunate twist for consumers who have already faced problems over reviews of troubled mortgage loans.

From household wealth to spending at stores, many of the U.S. economy's vital signs have recovered from the damage done by the Great Recession. Home foreclosures and layoffs have dropped to pre-recession levels.

HSBC Holdings Plc agreed to pay $249 million to end a case-by-case review of past foreclosures in the U.S., regulators announced on Friday.

Consumer advocates have complained that U.S. mortgage lenders are getting off easy in a deal to settle charges that they wrongfully foreclosed on many homeowners....

Ten major banks and mortgage companies agreed Monday to pay $8.5 billion to settle federal complaints that they wrongfully foreclosed on homeowners who should have been allowed to stay in their homes.

A $10 billion settlement to resolve claims of foreclosure abuses by major lenders is expected to be announced on Monday, several people with knowledge of the discussions said.

U.S. foreclosure filings dropped to a five-year low in September as fewer homes were on track to be seized by lenders. It was the second-consecutive monthly decline in filings, although there remains a sharp divergence along state lines, according to a report Thursday by foreclosure listing firm RealtyTrac Inc.

Home prices kept rising in July across the United States, buoyed by greater sales and fewer foreclosures. National home prices increased 1.2 percent in July, compared to the same month last year, according to the Standard & Poor's/Case Shiller index released Tuesday. That's the second straight year-over-year gain after two years without one.

San Bernardino County, with some of the nation’s highest foreclosure rates, may use eminent domain to buy up mortgages and cut them to the current value of the homes.

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....