A partial settlement plan has been constructed by a group of state attorneys general and federal regulators. In theory, it addresses banks’ flawed mortgage servicing, modification and foreclosure practices. In reality, it just …
Mortgage rates on 30-year fixed loans moved above 5% this week, according to a Freddie Mac report, up from 4.81% last week, reaching the highest level since April 2010. The home market is already up against a number of challenges — and now mortgage ra…
2010 was an especially tough year for homeowners, according to a year-end report from RealtyTrac. Many foreclosure proceedings, however, were stopped late in the year, which means that as many as a quarter million foreclosure f…
Bank of America’s persistent failure to modify home loans has resulted in the inevitable: a consumer class action lawsuit. Last week, Susan Fraser of Missouri filed suit on behalf of herself and other qualified homeowners whom …
The government’s program to prevent foreclosures is falling far short of its stated goals, a congressional watchdog reported.
The Treasury’s Home Affordable Modification Program (HAMP) is likely to fulfill less than a third of its goal of preventing …