WASHINGTON - The number of homeowners stung by the rout in the U.S. housing market jumped last month as foreclosure filings grew by more than 50 percent compared with June a year ago, according to data released Thursday.
Nationwide, 252,363 homes received at least one foreclosure-related notice in June, up 53 percent from the same […]

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AP - Consumer advocates nervous about Bank of America Corp.’s proposed takeover of troubled mortgage lender Countrywide Financial Corp. are pressuring the bank to provide assurances that Countrywide borrowers facing foreclosure won’t lose their homes.
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WASHINGTON - A program President Bush is expanding to help struggling homeowners head off foreclosure has helped only 1 percent of the borrowers it originally set out to assist and is expected to reach just 100,000 more by the end of the year.
The administration claims the initiative has reached 60 times more homeowners and will […]

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AP - Americans with mortgages exceeding the value of their homes face long odds of getting help under an expanded Bush administration program aimed at helping distressed borrowers.
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AP - Borrowers fell behind on their car, home equity and home improvement loans in last three months of 2007 at a delinquency rate not hit since the early 1990s.
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NEW YORK (CNNMoney.com) — Federal Reserve chairman Ben Bernanke outlined the central bank’s proposal Friday to stem the subprime meltdown.
In a speech at the National Community Reinvestment Coalition’s annual meeting, Bernanke said that the Fed is working to curb unfair lending practices to protect borrowers of adjustable rate mortgages.
“The Federal Reserve is strongly committed to […]

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NEW YORK (CNNMoney.com) — The credit crunch has finally hit the traditional mortgage market.
Investors are now shunning mortgage-backed securities issued by government sponsored enterprises Fannie Mae and Freddie Mac, which have been critical in keeping the real estate market from completely falling apart.
Some fear this development will make it harder for people, even those with […]

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The average home has lost £6,000 in value over the past six months in the latest sign that the housing market is on the brink of a major decline.
The number of new buyers being approved for a mortgage has fallen by nearly a half since this time last year amid fears that curbs on new […]

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