Foreclosed properties in the U.S. cause only a modest decline on the home prices of nearby properties, and the effects go away a year after the distressed property is resold, according to a working paper by the National Bureau of Economic Research.
Three reports released this week demonstrated positive trends in the U.S. housing market, but experts warn that a real recovery is still months away.
Former Florida governor Jeb Bush renewed his call for Republicans to reconsider their immigration platform on Tuesday, warning attendees of a panel discussion that the future of the party is at stake.
Some of local governments are turning to a new tool to fix the problem, known as underwater mortgages: seizing the loans through eminent domain and enacting principal reductions, a move that is attracting praise and controversy.
U.S. foreclosure filings increased for the first time in three months by 9 percent in May, according to a Thursday report by listings site RealtyTrac.
U.S. President Barack Obama on Saturday continued to urge Congress to pass legislation he said would add more jobs for teachers as Republicans and Democrats bickered over whether expanding the public sector would strengthen the economy.
Mitt Romney would not offer relief for the 11.5 million U.S. homeowners with underwater mortgages if he were elected president, one of his advisers said Saturday. The assertion contrasts with Romney's own words in January: The idea that somehow this is going to cure itself by itself is probably not real.
U.S. home resales rose in April to their highest annual rate in nearly two years and a falloff in foreclosures pushed prices higher, hopeful signs for the country's economic recovery.
The annual shareholder's meeting Tuesday of JPMorgan Chase & Co. (NYSE: JPM), widely expected to feature fiery denunciations of leaders at the nation's biggest bank, could hardly have been quieter or more management-friendly.
Demonstrators are expected to swarm Bank of America Corp's annual shareholder meeting on Wednesday to voice anger over a range of issues from foreclosures to corporate taxes to financing for the coal industry.
The number of blacks and Hispanics registered to vote has dropped precipitously since the 2008 election, diminishing two bastions of Democratic support that could prove crucial in what promises to be a tight presidential race.
U.S. 30-year fixed-rate mortgages fell to a new record low of 3.84 percent in the week ending May 2, following subdued economic data, mortgage financier Freddie Mac said Thursday.
The share of privately-owned U.S. homes fell to a 15-year low in the first quarter as falling house prices and stringent lending conditions push younger Americans, in particular, into renting.
U.S. existing home sales fell 2.6 percent in March to an annual rate of 4.48 million, the National Association of Realtors said Thursday, missing expectations and highlighting continued weakness in the housing market.
The foreclosure activity in the US for the first quarter declined to the lowest level since the fourth quarter of 2007, according to a report by RealtyTrac.
The head of the Consumer Financial Protection Bureau proposed on Tuesday new regulations to hold mortgage servicers accountable, requiring them to provide more information and give struggling homeowners more options.
Mercedes Robinson-Duvallon turned 83 in February, but there was little time for celebration.
Splurging on a vacation home shortly after the housing market meltdown was not an easy decision for Kathy and Dan Nikolai.
Most of March's housing numbers were disappointing, with sales unexpectedly falling across all categories and prices hitting new lows, reversing February's optimism. But the winter market is usually the year's quietest, and spring could see a redemption for the housing market.
The inspector general for the U.S. Department of Housing and Urban Development said banks involved in the nationwide settlement on foreclosure practices significantly hindered its investigation.
The government released the fine print of its landmark $25 billion mortgage settlement, and promised to closely police the banks' pledges to bring widespread housing relief, even while letting them dodge admission of wrongdoing.
Bank of America, one of five banks in $25 billion settlement with the government over foreclosure practices, has struck a side deal that will allow it to reduce penalties in return for bigger cuts to borrowers' mortgage balances, the Wall Street Journal said.
