Mortgage, Foreclosure | featured news

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.

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.

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.

When Lisa Brown moved into her rental house on Long Island last summer with her three daughters, she says, it felt like a new beginning.

President Barack Obama announced fresh aid to struggling homeowners in California Thursday, playing a bit of divide-and-conquer by pitting his Republican critics in Washington against GOP governors and mayors eager for the federal money.

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