Housing Crisis | featured news

Goldman Sachs CEO Lloyd Blankfein, in written testimony prepared for a Senate hearing on Tuesday, said his firm "certainly did not bet against our clients."

A Senate investigation into the financial crisis has found that Goldman Sachs, the storied Wall Street investment bank, sought to profit from the historic decline in housing prices by betting against the US mortgage market.

In a counterintuitive solution, nonprofits in Boston are selling houses back to owners after foreclosure.

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.

Many critics of the Obama administration's mortgage loan-modification program say it won't work because it doesn't do enough to address "negative equity," the plight of people who owe more on their home loans than the current value of those properties. Without equity in their homes, these critics say, borrowers have little incentive to keep paying and are apt to walk away as soon as things get tough, if not before.

As markets boom, Fed officials and central bank researchers are looking for ways to keep housing and credit bubbles from happening in the first place.

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

Fannie Mae plans to allow homeowners facing foreclosure to stay in their homes and rent them for up to one year in a new program to help troubled borrowers.

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.

U.S. home loans failed at a record pace in July despite ongoing federal and state programs to avoid foreclosures, which have severely strained housing and the economy.