homeowners

Stories 41 - 60 | << Prev   Next >>

It's Amazing These Homeowners Keep Paying Their Mortgage

May make more sense to stop and live rent-free for a while

(Newser) - As the foreclosure mess gets worse almost literally by the day , Brett Arends poses a question to all those underwater homeowners still making mortgage payments: Are you nuts? He's actually far more diplomatic than that, but to him "the big question" in all this isn't why so many "...

Foreclosure System in Chaos—Which Might Be Good

It could eventually help housing prices stabilize

(Newser) - The nation's foreclosure system is coming to a virtual standstill in the wake of news that two big home lenders may have done shoddy work processing them. The New York Times weighs in on the mess and finds a silver lining: This could actually help the housing market in the...

We Need More Flexible Home Mortgages
 We Need 
 More Flexible 
 Home Mortgages 
opinion
Aug 12, 2010 12:46 PM CDT

We Need More Flexible Home Mortgages

Today's loans 'designed for yesterday's borrowers'

(Newser) - In an op-ed headlined "The 30-Year Prison," Katherine Stone lays out what she sees as a big problem contributing to the housing crisis: "Today's mortgages are designed for yesterday's borrowers." Long gone are the days when people had the same stable job for life, and it's...

Homeowner Bailout May Be on the Way
Homeowner Bailout
May Be on the Way
hot rumor dept
Aug 5, 2010 2:44 PM CDT

Homeowner Bailout May Be on the Way

Insiders think Fannie and Freddie will forgive mortgage debt

(Newser) - Another enormous bailout may be in the works, this time for underwater homeowners, writes Reuters blogger James Pethokoukis. Rumor has it that the Obama administration will sidestep Congress and order lenders Fannie and Freddie to forgive some of the mortgage debt of Americans who owe more than their homes are...

Straighten Out Your Finances in 2010
 Straighten Out 
 Your Finances 
 in 2010 
resolutions
Jan 3, 2010 4:53 PM CST

Straighten Out Your Finances in 2010

Some simple moves can net $1K or more

(Newser) - On the eve of the first serious workday of the New Year, take a hard look at your finances and see where you can cut back in 2010. A relatively small investment in time can result in some serious savings, Kathy Kristof writes for the Los Angeles Times :
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Modified Mortgages May Do More Harm Than Good

Critics say they hurt homeowners by merely delaying foreclosure

(Newser) - The Obama program to rescue homeowners by modifying their mortgages comes under fire in the New York Times, where real estate experts say it has actually hurt rather than helped delinquent borrowers and impeded the country's economic recovery. Critics say that by raising false hopes in those who can't afford...

Dems: Use TARP Funds to Aid Jobless, Homeowners

White House wants to use balance to cut deficit

(Newser) - Democrats in Congress want to direct some of the remaining billions in the Wall Street bailout funds to struggling workers and homeowners—a plan that puts them at odds with the White House, which aims to put the TARP balance toward deficit reduction. The change in Congress comes as unemployment...

Banks Yanking Homeowners' Last Hope: Short Sales

Healthier lenders no longer anxious to cut deals

(Newser) - As banks get healthier, they're getting stingier with one of the few remaining lifelines for underwater homeowners—short sales. To keep home sales moving in leaner times—and to get bad loans off their ledgers—lenders would forgive the difference between the outstanding mortgage balance and the purchase price. Such...

BofA Severs Ties With ACORN
 BofA Severs Ties With ACORN 
Sep 28, 2009 9:08 AM CDT

BofA Severs Ties With ACORN

ACORN Housing advocated for homeowners facing foreclosure

(Newser) - Bank of America has cut off ties with ACORN’s housing assistance arm following revelations that employees of the community organizing group gave ill-advised assistance to videographers posing as a pimp and prostitute. ACORN Housing has worked with BofA—among other banks—since the '90s to help homeowners in danger...

Mortgage Scammers Prey on Strapped Homeowners
Mortgage Scammers Prey
on Strapped Homeowners
investigation
Sep 24, 2009 7:50 PM CDT

Mortgage Scammers Prey on Strapped Homeowners

So-called rescue firms promise to negotiate lower rates, then take money and run

(Newser) - Mortgage brokers who made a mint during the housing boom setting up homeowners in toxic loans are now profiting from a different sort of shady deal. So-called foreclosure rescue firms are proliferating across the US, taking money upfront and promising to negotiate with homeowners’ banks for better interest rates. Instead,...

Plunging Property Taxes Bleed Government Coffers

(Newser) - From New York and Los Angeles to devastated Rust Belt towns, falling home prices are leaving local governments in a pinch, the New York Times reports. Desperate for extra cash, homeowners are petitioning assessors in droves to lower their property taxes and match property values. “It’s worthy of...

Congress Weighs Wider Home Tax Credit

$8K for first-time buyers may jump to $15K, apply to all sales

(Newser) - With the tax credit for first-time homebuyers set to expire in November, congressional efforts to increase it and broaden its reach are ramping up, reports USA Today. Chris Dodd, who leads the Senate Banking Committee, supports a proposal to raise the credit to $15,000 and extend it to all...

'F@$%! I Wish I'd Refinanced My House'

With mortgage rates rising, homeowners regret not acting sooner

(Newser) - Many homeowners are kicking themselves for not refinancing sooner now that mortgage rates are climbing, ABC News reports. “I was going to save $325 a month, and that covers all kind of things, from gas to groceries,” lamented one. “$325 is a lot of money.” And...

New Foreclosure Legislation May Not Be Enough

Congressional aid to homeowners may need overhaul, not 'patches'

(Newser) - Congress’ Hope for Homeowners plan was aimed at fighting the foreclosure epidemic, and it’s been a success for exactly one person. Now, lawmakers have put “patches” on the legislation—but some worry the fixes aren’t going to do the job, ProPublica reports. Instead, it needs “some...

13K Flee as Calif. Fire Rages
 13K Flee as Calif. Fire Rages 
May 7, 2009 3:05 PM CDT

13K Flee as Calif. Fire Rages

(Newser) - 13,575 people have fled their homes as a wildfire that has consumed 1,300 acres rages in Santa Barbara, Calif., the Los Angeles Times reports. Another 13,000 are on alert, Bloomberg adds. Officials are unsure how many homes have been destroyed, but it’s in the “dozens....

As Bank Moratoriums End, Foreclosures Surge

(Newser) - As internal bank moratoriums on foreclosure imposed last year expire, many more Americans are losing their homes, the Wall Street Journal reports. Foreclosure proceedings were up 6% in February over January, and up 30% from March 2008. Just as the Obama administration's rescue plan kicks in, delinquents who don’t...

Toxic Drywall May Be Sickening Homeowners

Chinese-imported materials used in more than 500,000 homes

(Newser) - Something’s rotten in the state of American homes: Chinese-imported drywall, which emits a sulfurous odor and could sicken homeowners, AP reports. More than 500 million pounds of the material was imported during America’s housing boom, when domestic supply was scarce and expensive, and it could line over 100,...

In Today's Economy, Nannies Must Multitask

(Newser) - As affluent Americans downsize their household staffs, the once distinct lines between nannies and housekeepers are getting a little fuzzy, the Los Angeles Times reports. More and more, nannies are being asked to scrub the toilets along with watching the kids, and housekeepers are being asked to vacuum with a...

House Homeowner Bill Lets Judges Reset Mortgages

Measure would allow bankruptcy judges to ease mortgage terms

(Newser) - The House has passed a homeowner rescue bill over the strenuous objections of the financial industry that would allow bankruptcy judges to change the terms of mortgages, the Washington Post reports. Judges could cut the principal on mortgages, extend terms and reduce interest rates under terms of the "cramdown"...

1 in 5 Homeowners Underwater
 1 in 5 Homeowners Underwater 
Mar 4, 2009 10:17 AM CST

1 in 5 Homeowners Underwater

(Newser) - More than 20% of Americans with home mortgages owe more to their lenders than their homes are worth, a 2% rise since September, the Washington Post reports. The hardest-hit state was Nevada, where 55% of homeowners with mortgages have negative equity. These 8.3 million homeowners nationwide are much more...

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