Factory-built homes maker Champion Enterprises Inc (CHB.N) said its lenders agreed to refrain from taking actions after it failed to make certain payments.
On the surface, a glimmer of confidence is returning to the battered U.S. housing market, after more than three years of gut-wrenching defaults, price slumps and foreclosures.
The swift downturn in California's economy and the ensuing wave of job losses cost Sue and Nabil Boctor their house.
Government programs to fight the U.S. home foreclosure crisis look increasingly inadequate and should be reworked, expanded and supplemented with new ideas, a congressional watchdog said in a report on Friday.
Government programs to fight the U.S. home foreclosure crisis look increasingly inadequate and should be reworked, expanded and supplemented with new ideas, a congressional watchdog said in a report on Friday.
Government programs to fight the U.S. home foreclosure crisis look increasingly inadequate and should be reworked, expanded and supplemented with new ideas, a congressional watchdog said in a report on Friday.
With U.S. mortgage rates back below 5 percent and still dropping, homeowners are once again looking to refinance loans and cut monthly payments.
Don't look now but mortgage rates are really, really low -- practically at record low levels. Homeowners who still have adequate equity might want to jump on this and refinance one more time. Or start using their home equity line again. Or switch to a fixed-rate loan. Or give up on their plans to pay off their home quickly and stretch it out as long as possible.
Don't look now but mortgage rates are really, really low -- practically at record low levels. Homeowners who still have adequate equity might want to jump on this and refinance one more time. Or start using their home equity line again. Or switch to a fixed-rate loan. Or give up on their plans to pay off their home quickly and stretch it out as long as possible.
Every 13 seconds in America, there is another foreclosure filing.
Every 13 seconds in America, there is another foreclosure filing.
That's the rhythm of a crisis that threatens to choke off hopes for a recovery in the U.S. housing market as it destroys hundreds of billions of dollars in property values a year.
The Obama administration's latest effort to boost the beleaguered housing market is likely to help mortgage insurers as lower defaults will boost their liquidity.
U.S. mortgage applications surged last week to their highest since mid-May as consumers sought to take advantage of the lowest interest rates in months, data from an industry group showed on Wednesday.
U.S. government-controlled mortgage finance companies Freddie Mac and Fannie Mae are working on a program to help independent mortgage banks get access to short-term credit needed to make home loans, the Wall Street Journal said, citing people familiar with the matter.
U.S. mortgage applications surged last week to their highest since mid-May as consumers sought to take advantage of the lowest interest rates in months, data from an industry group showed on Wednesday.
U.S. government-controlled mortgage finance companies Freddie Mac and Fannie Mae are working on a program to help independent mortgage banks get access to short-term credit needed to make home loans, the Wall Street Journal said, citing people familiar with the matter.
The U.S. Treasury will soon finalize a plan to expand its incentives for mortgage companies to include short sales as a way to stem a rising tide of foreclosures, according to a Treasury spokeswoman.
The average rate on 30-year U.S. home loans fell in the past week to retest record lows, helping stimulate housing demand, Freddie Mac said on Thursday.
Foreclosures and other distressed property might look like a good deal, but some buyers are discovering that they just don’t have the stomach for the problems that come with it.
Nearly one third of people who applied for a mortgage last year were denied, the Federal Reserve reported Wednesday.
A study of 24 million credit files by national credit bureau Experian and consulting company Oliver Wyman has shown that home owners with high credit scores are 50 percent more likely to deliberately walk away from a mortgage than lower-scoring borrowers.
The number of home foreclosures in process and delinquent mortgages rose during the second quarter, while home retention actions also rose, U.S. bank regulators said on Wednesday.
