Housing Market, Homeowner | featured news

Officials in 49 states have launched a joint investigation into allegations that mortgage companies mishandled documents and broke laws in foreclosing on hundreds of thousands of homeowners.

President Barack Obama will not sign legislation that could have made it more difficult for homeowners to challenge unjustified foreclosure actions, the White House said on Thursday.

Michael Feder, chief executive officer of Radar Logic Inc., talks about US home prices and the outlook for the housing market. US home prices fell 1.6 percent in the second ...

The Obama administration is providing $3 billion to unemployed homeowners facing foreclosure in the nation's toughest job markets.

The Treasury Department says it will send $2 billion to 17 states that have unemployment rates higher than the national average for a year. They will use the money for programs to aid unemployed homeowners. Some of those states have already designed such programs.

Only 340,000 homeowners have had their mortgages permanently adjusted under the program, a small fraction of those needing assistance.

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.

President Obama will use a campaign stop for Senate Majority Leader Harry Reid  to announce a new initiative to help support homeowners in states hit hardest by the housing crisis.

About 4 million U.S. homeowners are 90 days or more delinquent on their loans or in foreclosure proceedings, Moody's Economy.com says. A federal loan modification program is helping a relative few.

The number of U.S. households facing foreclosure in January increased 15 percent from the same month last year, and a surge in cash-strapped homeowners who've fallen behind on mortgages could be on the way.