Mortgage News

Some Southern California homeowners, who are on the verge of foreclosure, are looking to the rental market for assistance, and they are finding that monthly rents are on the decline, according to an article from the Los Angeles Times .

A major provider of mortgage data said Tuesday that the percentage of "underwater" homeowners - people who owe more than their homes are worth - is significantly lower than the company previously reported.

Dubai, in debt from financing a building boom, is seeking to defer payments. The announcement - the global high finance equivalent of a homeowner asking the bank to allow six months of skipped mortgage payments, presumably because the homeowner was out of cash - sowed fear of a contagion of instability that could roil markets that are only now ...

Go ahead. Break the chains. Stop paying on your mortgage if you owe more than the house is worth.

The Obama administration, battling a foreclosure crisis that shows no signs of relenting, will step up pressure on mortgage companies to do more to help people remain in their homes, officials said Saturday.

Fannie Mae plans to raise minimum credit score requirements next month and limit the amount of overall debt that borrowers can carry relative to their incomes, The Washington Post reported on Thursday.

Chief Financial Officer Joe. L. Price and mortgage unit President Barbara J. Desoer will earn less salary in 2009 than they did last year following approval by the officer of the special master for TARP Executive Compensation, Bank of America said in papers filing with the Securities and Exchange Commission.

Los Angeles must take dramatic steps in coming months to bring its budget back into balance, including measures to slim the size of its government and reduce how much it spends on pensions for retired employees, the city's top budget official said on Wednesday.

A new report shows that more than half of Reno-area homeowners with a mortgage owe more to the bank than their homes are worth.

Banks borrowed slightly more from the Federal Reserve's emergency lending program over the past week.

The Arizona Supreme Court is being asked to overturn the Legislature's use of budget laws to set state policy on topics ranging from teachers' seniority rights and immigration enforcement to mortgage lawsuits and municipal building codes.

For sale sign for a new home is shown in East Palo Alto, Calif., in this Dec. 16, 2008 file photo.

More than 16 percent of homeowners in the Dayton area owe more on their home than it is worth.

Manhattan real estate developer Ivy Woolf-Turk was sentenced yesterday to five years in prison for her participation in a $27 million Ponzi scheme involving obtaining fraudulent loans secured by nonexistent mortgages.

Fixed 30-year mortgage rates dropped for a fourth consecutive week, matching a record low set in April, in a decline that may further support increasing sales in the battered housing market.

Former Portland mortgage broker Lee Howlett, labeled by federal prosecutors "a serial, unrepentant con-artist," was sentenced to 41 months in prison Tuesday.

New home construction rose by a seasonally adjusted an annual rate of 157,300 units in October, up from 149,300 in the previous month, according to Canada Mortgage and Housing Corporation.

Angry: Judge Jeffrey Spinner called OneWest bank 'repulsive' A New York couple got an early Christmas present when an angry judge wiped out their 370,000 mortgage.

Home sales in Los Angeles County rose 1.8 percent in October compared to the same time last year, but were down 5.6 percent from the previous month, according to figures released today.

Deutsche Bank AG and a BNP Paribas unit sued Bank of America NA on Wednesday over allegations the bank failed to pay back $1.73 billion in secured notes.