March 18, 2012 At the height of the housing crisis, low-income Americans had many opportunities to buy a home with the help of subprime mortgages, which proved to be disastrous. But those battered by the crisis continue to find paths to home ownership, despite financial disincentives.
March 16, 2012 The rate at which foreclosures are processed varies widely depending on the state. In New York, for example, it's taking about three years on average, compared with three months in Texas. The difference often has to do with whether courts are overseeing the process.
March 16, 2012 Texas processes foreclosures fastest, with an average of 90 days. At the other end is New York, with an average of 1,019 days. Experts say there are pros and cons to getting through them both too fast and too slow. The national average is 348 days to complete a foreclosure.
February 29, 2012 The nation's five largest mortgage lenders recently pledged to start writing down the principal on mortgages that are underwater. But mortgage giants Fannie Mae and Freddie Mac aren't part of the agreement and don't plan any big changes in the way they do loan modifications.
February 27, 2012 About one-third of all home purchases these days are made in cash — far above normal. Some of those buyers are investors who crowd out people who want to buy the traditional way: with a mortgage. But cash buyers are also helping to mop up the huge inventory of foreclosures around the country.
February 23, 2012 Big banks and other large investors are buying up tens of thousands of foreclosed rental properties across the country. According to tenants and regulators, they're not model landlords. Some fail to follow housing codes, leaving tenants to live without even a number to call in the most dire situations.
February 9, 2012 Foreclosures slowed as big banks waited for the details of the settlement to become clear. Now, they're likely to pick up the pace.
February 9, 2012 Officials have been pressing five banks to offer mortgage relief and some financial aid to homeowners who got crushed when the housing bubble burst or were caught up in the "robo-signing" scandal that sped up the foreclosure process.
February 8, 2012 California, New York and a handful of other states have yet to sign on to a deal with mortgage lenders that would resolve the "robo-signing" issue. Lenders have pledged $25 billion to reduce outstanding mortgages, but some states say the deal doesn't go far enough to protect consumers.
January 23, 2012 When President Obama delivers his annual State of the Union address Tuesday, the economy will be a top issue — as will the housing market, which is still at the heart of the country's economic problems. New housing starts are still low and foreclosure prevention efforts haven't done as much as hoped.
January 23, 2012 WNYCAttorney General Eric Schneiderman joined with other state attorneys general last year who were suing five large mortgage servicers. But he was disturbed by the shape of the agreement, and says banks wanted broad protection from lawsuits over other mortgage practices. So he started his own investigation.
January 20, 2012 WCPNMillions of homeowners are finding out that their property taxes are either holding steady or rising. Their houses, however, may be worth much less, and there may not be much they can do about it. The economic downturn, state laws and property appraisals have created some surprises.