Mortgage News

QUESTION: My husband and I co-signed a loan for our son and his now ex-wife. Our son stayed in the home but fell behind on the payments, and the home was in foreclosure.

Mike Buckley has worked 10-hour days seven days a week to prepare his four beach properties for the summer rental season, but with Memorial Day approaching, he has a sinking feeling that many of his tenants are migrating south.

Ally Financial Inc. has agreed to pay $2.1 billion as part of a settlement plan to resolve potential financial claims stemming from its mortgage division, Residential Capital LLC, which is in bankruptcy proceedings.

RATES RISE: Average U.S. rates on fixed mortgages rose this week to their highest levels since mid-March. Even with the gains, they remained close to historic lows.

Former World War II Army squad leader and Medal of Honor recipient Vernon McGarity has died at age 91, a funeral home said Thursday.

U.S. sales of new homes rose in April and nearly matched the fastest pace in five years, driving the median price to a record high.

Remember that Obama campaign ad featuring Mitt Romney singing "America the Beautiful" to scenes of Caribbean islands where the GOP nominee had invested some of his considerable wealth? So do Republican senators who plan to question Commerce Secretary nominee Penny Pritzker about her own off-shore assets at a confirmation hearing today, a ... (more)

New home sales edged slightly higher once again in April as the housing market continues to give a lift to the U.S. economy.

Seven million college students are on track to see their federal loan rates double this year unless Congress acts ahead of a July 1 deadline when subsidized Stafford loan rates will increase from 3.4% to 6.8%. The U.S. House will vote Thursday on a Republican plan to head off the increase inspired by an unlikely source: President Obama.

Why did Jones pay more for his mortgage than Smith? One possible reason is that they borrowed at different times, when market conditions were different.

We are now heading toward the end of the spring homebuying season, and mortgage rates remain near record-low levels.

Buying a new home or refinancing a house currently owned is something that a lot of Americans are going for.

The number of Sacramento-area homeowners who owe more than their homes are worth continued tumbling in the first three months of this year, real estate tracking firm Zillow reported Wednesday.

Investors Continue to Drive Home Price Increase Pro Teck CEO Tom O'Grady discusses the April 2013 Home Value Forecast, featuring the Los Angeles, Atlanta and Warren, Mich.

Almost a third of Canadian households report never or almost never having any money left to save after paying their bills, according to a new study issued Wednesday.

Wynn Resorts kept a suite open all year at its tony Las Vegas hotel and casino for founder and CEO Steve Wynn, at a cost of nearly $452,000. Former IBM CEO Samuel Palmisano was guaranteed an administrative assistant and furnished office for life as a retirement gift -- plus a $1 million office renovation.

For a talented, creative few, there's David Letterman. For most, there's a labyrinth of paperwork, hard decisions and painful sacrifices that could have dramatic repercussions on their financial health decades from now.

Chairman Ben Bernanke told Congress Wednesday that the U.S. job market remains weak and that it is too soon for the Federal Reserve to slow its extraordinary stimulus programs.

Stocks fell in afternoon trading Wednesday on news that several Federal Reserve policymakers in a meeting earlier this month favored cutting back on stimulus programs as early as June if the economy continued to improve.

Canada's housing market is slowing dramatically in terms of both sales and construction, dragging down economic growth and putting some 150,000 jobs at risk in coming years, a mortgage industry association warns in its spring report.