Mortgage | featured news

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

Many mortgage companies are reluctant to give strapped homeowners a break because the companies collect lucrative fees on delinquent loans.

Policymakers have argued that it is a good deal for lenders to cut borrowers a break on mortgage payments, but foreclosing can be more profitable, experts say.

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.

The Obama administration is pressing mortgage-servicing companies to step up their efforts to modify troubled loans under its housing-rescue program.

Mortgage rates fell this week, with the average rate on 15-year fixed-rate mortgages dropping back below 5%, according to Freddie Mac's (FRE) weekly survey of mortgage rates released Thursday.

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.

Brace yourself -- there's actually some good news about the economy.

John P. McMurray made it clear to his Countrywide Financial Corp bosses that they were playing a dangerous game with risk.