In the early days of the foreclosure crisis, the hardest-hit states were ones where building booms had been the biggest—California, Nevada and Florida topped most foreclosure lists. But now, according to some recent information, it seems that the worst foreclosure woes are no longer restricted to these area of the country.
In fact, the latest figures [...]

While the Great Recession, touched off by the abuses in the housing market in the years leading up to 2007, has wreaked havoc on the economy of the United States, it has also caused some positive changes in the economic landscape. One of these changes, reported here by Reuters, is a system of monitoring and [...]

The housing market’s recent bubble and burst cycle has left the country in an unpleasant housing situation: millions of homes are underwater, meaning that families owe more on their mortgages than their homes are worth. Add in high unemployment and you begin to see why so many Americans are struggling to make mortgage payments—and wondering [...]

A recent report from ConsumerMortgageReports.com presents some troubling numbers that suggest the nation’s foreclosure and real estate problems aren’t going away any time soon. Here’s a look at some of the latest foreclosure numbers and what they might mean for the housing market.
HAMP and Unaffordable Mortgages
The Home Affordable Mortgage Program (HAMP) is the Obama Administration’s [...]

As Congress’s financial reform bill makes its way to President Obama’s desk to be signed into law, some lenders, according to the New York Times, are modifying their practices to come into compliance with anticipated restrictions the bill will introduce.
Here’s a look at some changes you can expect to see when the new law is [...]

A recent New York Times article reports that Fannie Mae (which, along with Freddie Mac, controls about 30 million mortgages in the United States) has announced plans to introduce punishments for homeowners who decided to strategically default on underwater home loans – that is, those who could afford to pay their mortgages but choose not [...]

In the wild pre-recession housing market, many mortgage lenders required little or no proof of potential mortgagee’s incomes. Mortgages were often based solely on the borrower’s personal guarantee.
Needless to say, this arrangement worked poorly for both lenders and borrowers, as the mortgage foreclosure rate continues to skyrocket today. As a result, mortgage lenders are now [...]