LOS ANGELES — Foreclosure activity surged last month across about half of the nation’s states, as banks tackled a backlog of homes with mortgages that had gone unpaid yet remained in limbo due to delays stemming from foreclosure-abuse claims. The ...

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NEW YORK — Bank of America is providing mortgage relief to about 200,000 homeowners. Homeowners that qualify are those whose home values have fallen below what they owe on their mortgages. Bank of America will reduce the amount owed by ...

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NEW YORK — Late payments on mortgages ticked up in the last three months of 2011, the second straight quarter-to-quarter increase after nearly two years of steady decline. Credit reporting agency TransUnion said 6.01 percent of mortgage holders were behind ...

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WASHINGTON — Fewer people bought new homes in December. The decline made 2011 the worst year for new -homes sales on records dating back nearly half a century. The Commerce Department said Thursday new-home sales fell 2.2 percent last month ...

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NEW YORK — In a sign that banks will continue to be punished for past mistakes, JPMorgan Chase set aside a large sum to fight lawsuits related to poorly-written mortgages during the real estate boom. The reserves hurt the bank’s ...

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WASHINGTON — The Securities and Exchange Commission has brought civil fraud charges against six former top executives at Fannie Mae and Freddie Mac, saying they misled the government and taxpayers about risky subprime mortgages the mortgage giants held during the ...

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WASHINGTON — The average rate on the 30-year fixed mortgage hovered above its record low for a fourth straight week. But cheap mortgage rates have done little to boost home sales or refinancing. Freddie Mac says the rate on the ...

Tagged with: Economy housing interest markets mortgages rates Real Estate Recession

Just about any real estate agent will tell you that for almost four years now, buyers and sellers have had one trait in common — procrastination. Although the desire to delay is frustrating for agents, the trepidation of buyers and ...

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In the midst of another mini-refinance boom (thanks to the Greek government — again), Fannie Mae and Freddie Mac have announced that they have extended their Home Affordable Refinance Program through the end of 2013. Those good souls at the ...

Tagged with: Banks borrow fannie mae freddie mac housing lender loans mortgages Real Estate refinance Robert Nusgart

The Federal Reserve spoke. The markets listened. And mortgage rates took another nosedive. Yes, mortgage rates have moved to another low point after the Fed on Wednesday basically said that the tough economic times are going to stick around for ...

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