Housing Market, Real Estate | featured news

A backlog of foreclosures and falling sales indicate prices may decline further, discouraging builders from taking on new projects.

JPMorgan Chase & Co has pushed out its head of home lending, David Lowman, who was sidelined in February after the bank racked up billions of dollars in losses on soured mortgages and became mired in litigation over a wave of foreclosures.

U.S. bank regulators said they will give 14 financial institutions an additional 30 days to submit plans to fix problems with their home-foreclosure practices, allowing more time to complete a broader settlement with state and federal agencies.

Refinancing can be a great way to save money, but it's not a sure thing. Before you take the plunge, ask yourself these six questions to avoid making a major money mistake.

Proposed rules sparked by the financial industry meltdown could have the effect of shutting many lower-income buyers out of the mortgage market, critics say.

Real estate prices in China's capital city saw a sizeable correction last month. Is it a new trend?

The nation's largest mortgage companies are operating on the assumption that they will have to pay as much as $20 billion to resolve claims of widespread foreclosure abuse, an amount four times what they had originally proposed, the top federal official overseeing the discussions told state officials Monday, according to people who participated in the conversation.

Programs already plagued by delays and poor participation were not designed to fully address unemployment, now the primary cause of foreclosures.

Home prices have reached their lowest points since the housing bubble burst in 2006, driven down by foreclosures, a glut of unsold homes and the reluctance or inability of many to buy.

Sales of homes in some stage of foreclosure declined in the first three months of the year, but they still accounted for 28 percent of all home sales.