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Tag Archives: underwater

Inspector General: Foreclosure aid program flawed

WASHINGTON — The Treasury Department rushed out a major revamp of its foreclosure-prevention program in 2010, limiting the plan’s ability to help people who are unemployed or owe more than their homes are worth, a government watchdog says. Treasury’s Hardest ...

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Some states saw spike in foreclosures in February

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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Bernanke: Weak housing has hurt consumer spending

WASHINGTON — Ben Bernanke said declines in home prices have forced many Americans to cut back sharply on spending and warned that the trend could continue to weigh on the U.S. economy for years. The Federal Reserve chairman drew the ...

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U.S. foreclosure activity hit 7-month high in Oct.

LOS ANGELES — More U.S. homes entered the foreclosure process in October than in the previous month, with Florida, Pennsylvania and Indiana registering among the largest monthly increases, new data show. Some 77,733 properties received an initial default notice last ...

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