Housing Crisis, Mortgage | featured news

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.

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

The Obama administration is expected to expand its mortgage aid program on Thursday, announcing new measures that would help ...

The Obama administration's loan modification program is finally underway.

U.S. foreclosure activity leaped 46 percent in March from a year earlier, hitting a record high as programs stunting the torrid pace of failing mortgages expired, RealtyTrac reported on Thursday.

Addie Polk, who became the national face of the foreclosure crisis last fall when she shot herself during an eviction, was a quiet woman who never asked for help.

The House has passed legislation to give debt-strapped homeowners a chance to win lower mortgage payments through bankruptcy courts.

About one in every eight U.S. households, a record share, ended 2008 behind on their mortgage payments or in the foreclosure process as job losses intensified a housing crisis spawned by lax lending practices, the Mortgage Bankers Association said on Thursday

The Obama administration today released details of $75 billion home loan modification and refinancing programs. Borrowers can start contacting loan servicers.

One in five U.S. homeowners with mortgages owe more to their lenders than their homes are worth, and the rate will increase as housing prices drop in states that have so far avoided the worst of the crisis, a new study shows.