The federal government's Home Affordable Modification Program is far from perfect, said Josh Zinner, an advocate with the Neighborhood Economic Development Advocacy Project in New York, "but the biggest problem is servicers not doing their job."
China's November housing inflation eased to its lowest level in the year, a victory for Beijing's campaign to ward off property bubbles as it steadily loosens monetary policy to ensure a soft landing in the world's second-largest economy.
Deeply divided U.S. lawmakers on Friday eked out an agreement to extend payroll-tax cuts for just two months, and only after Democrats bowed to Republican demands on a controversial oil pipeline.
Scarce dollar funding and a retrenchment in bank lending will force up premiums for emerging market countries and companies refinancing debt next year, adding to strains on public finances and potentially triggering a surge in corporate defaults.
The Republican frontrunner in the run up to the U.S. Presidential elections, Newt Gingrich, had to face considerable criticism from his rivals, in the final GOP debate of the year and before the Iowa caucus on Jan. 3. Gingrich, throughout the debate, fought back allegations levied against him and compared himself to former Republican President, Ronald Reagan.
Front-runner Newt Gingrich came under sharp attack from rival Republican presidential candidates Thursday night at the last debate before Iowa launches the 2012 election season.
Canadian industries are operating at a production capacity that is approaching pre-recession levels and the housing market remains strong, according to data on Thursday that offered the prospect of steady, if slower, economic growth.
After years of economic turmoil, U.S. homebuilders should see modest gains and a stable outlook in 2012, according to a report from Fitch Ratings.
Enforcement officials at the Securities and Exchange Commission will reportedly recommend that the agency appeal a federal judge's November decision rejecting a $285 million settlement with Citigroup.
Overall U.S. foreclosure activity fell in November compared to the previous month, but auctions hit a nine-month high, according to RealtyTrac.
U.S. 30-year fixed-rate mortgage rates fell in the week ending Dec. 15 to 3.94 percent, matching an all-time historic low, according to Freddie Mac.
The debt burden on Canadian households rose to a record high in the third quarter as mortgage and consumer credit increased but the net worth of households fell, Statistics Canada said on Tuesday.
U.S. mortgage applications increased 4.1 percent on a seasonally adjusted basis in the week ending Dec. 9, led by an increase in refinances, according to the Mortgage Bankers Association.
Applications for refinancing on home mortgages jumped last week, even as demand for new home purchases dried up, an industry group said on Wednesday.
The city of Chicago said on Tuesday that it would vigorously defend a lawsuit filed by the Federal Housing Finance Agency (FHFA), which challenges an ordinance regulating the maintenance of vacant properties.
Republicans raised concerns on Tuesday over the Obama administration's nominee to head the Federal Housing Administration (FHA), as a possible bailout for the agency looms.
The Federal Reserve on Tuesday pointed to turmoil Europe as a big risk to the economy, leaving the door open to a further easing of monetary policy even as it noted some improvement in the labor market.
The Federal Reserve on Tuesday left monetary policy on hold but said financial market turbulence posed threats to economic growth, leaving the door open to further easing next year.
Morgan Stanley (MS) is taking a step back to reach a mutually beneficial settlement with bond insurance firm MBIA. The investment bank announced Tuesday that it's willing to take a pre-tax loss of $1.8 billion in the current quarter to resolve outstanding legacy exposures.
It's not been a good year for former CSI star Gary Dourdan; He was arrested in November for domestic violence and drug possession the same night he was in a violent car crash and is now facing foreclosure on his home in California.
Washington Mutual Inc., the biggest bank to fail in U.S. history, said it reached a settlement in a dispute between shareholders and certain creditors that had prevented the bank from emerging from Chapter 11 bankruptcy proceedings.
A new attack ad on Massachusetts U.S. Senate candidate Elizabeth Warren mistakenly frames the well-known liberal as a friend to Wall Street bankers.
