home finance

Mortgage defaults, foreclosures spreading

An industry survey shows a record 5.4 million American homeowners with a mortgage, or nearly 12 percent, were either behind on their payments or in foreclosure at the end of last year.

Administration unveils details of housing plan

The Obama administration kicked off a new program Wednesday that’s designed to help up to 9 million borrowers stay in their homes through refinanced mortgages or loans.

Stumped home sellers look to make a trade

Some home sellers tired of dropping prices and seeing buyers financing fall thorough are deciding to simply trade their homes for others in the same boat.

Citigroup to lower some mortgage payments

Struggling bank Citigroup Inc. said Tuesday that it will lower mortgage payments for some homeowners to an average of $500 a month for three months in a program to help the jobless.

Freddie Mac CEO resigning amid turmoil

The top executive of Freddie Mac is quitting after less than six months on the job as the company continues to hemorrhage from mortgage losses.

New home sales drop to record low in Jan.

New-home sales tumbled to a record-low annual pace in January and there is no relief in sight as the U.S. pushes deeper into recession.

Home resales drop to lowest in 12 years

Sales of existing homes took an unexpected plunge from December to January, falling to the lowest level in nearly 12 years as pessimism about the economy grew.

U.S. home prices tumble at record pace

A widely watched home price index, released Tuesday, showed prices tumbled by the sharpest annual rate on record in the fourth quarter and in December.

MSNBC - Real estate

MSNBC news about real Estate.

Obama unveils $75B mortgage relief plan

Seeking to tackle “a crisis unlike any we’ve ever known,” President Obama unveiled a $75 billion plan to keep as many as 9 million Americans from losing their homes to foreclosure.

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