Housing Crisis, Obama Administration | featured news

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.

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

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.

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