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States, banks to meet on foreclosures Tuesday

U.S. banks are due to meet with state attorneys general and federal agencies on Tuesday as they seek to reach a settlement over problems in the mortgage servicing industry.

Foreclosures fall in April amid paperwork issues

The number of Americans who lost their homes to the bank fell in April as faulty paperwork continued to slow foreclosure activity, which fell to a more than three-year low, a closely watched survey said on Thursday.

Book Review: Home Seller's Guide to Tax Savings

Almost five years ago, in A New Book on Taxation of Residence Sales: Don't Leave Home Without It, I reviewed Julian Block’s HOME SELLER’S GUIDE TO TAX SAVINGS.”

Prince falls behind on mortgage, home now in foreclosure

World renowned musician Prince has reportedly fallen behind $368,382 on the mortgage to his former home in Chanhassen, Minnesota, which now faces a foreclosure auction.

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Newly finished development of homes for sale, built by home builder KB Homes, are pictured in Carlsbad

New home sales drop in January

New home sales dropped more than expected in January, almost erasing the gains witnessed in December. The Commerce Department said new-home sales fell to a seasonally-adjusted annual rate of 284,000 (well below expectations of 300,000) and down 12.6 percent from the revised figure of 325,000 recorded in December.

BofA's unit violated Utah law in foreclosure actions, says state atty. gen

Utah's attorney general's office said ReconTrust Co., a subsidiary of Bank of America Corp. (BofA), has violated the state's law on foreclosures.

A foreclosed home is seen in Bullhead City, Arizona,

One in four U.S. counties “dying”: Census Bureau

One in four counties in the U.S. are ”dying” – meaning, they are recording more deaths than births – according to findings by the U.S. Census Bureau.

Homeowners in foreclosure not paid mortgage for 17 months: Report

U.S. homeowners facing foreclosure action haven't made a mortgage payment in an average of 17 months, compared to 11 months two years ago, and the time frame may increase, according to a USA Today report.

A foreclosed home up for auction is seen during the Long Island Foreclosure Tour in New Hyde Park, New York

Mortgage foreclosures “have clearly turned the corner”: MBA chief economist

Mortgage foreclosures “have clearly turned the corner,” said the Mortgage Bankers Association (MBA) chief economist Jay Brinkmann.

U.S. close to punishing banks over foreclosures

U.S. bank regulators are finalizing punishments against mortgage servicers after a probe found critical deficiencies with the industry's foreclosure processes.

Flyers are stacked beside calculators at the Housing Fair put on by the National Urban League's Economic Empowerment Tour in Dallas, Texas June 13, 2009.

Consumers captive to bad home mortgage system

Many U.S. consumers have no choice and are held captive to home mortgage-related companies that are often aggressively fast, commit errors in paperwork and refuse to answer questions, and whose continuing problems are holding back the country's economic recovery, a top U.S. regulator said on Friday.

White House backs standard for mortgage servicers

The Obama administration favors creating a national standard for mortgage servicers such as Bank of America Corp and JPMorgan Chase & Co that have been accused of botching home foreclosure procedures.

Obama launches housing overhaul plan, long road ahead

The Obama administration nailed a 'condemned' sign on the wrecked U.S. housing finance system on Friday but did not offer a clear blueprint for a rebuilding project that promises to take years.

A Bank of America customer uses an ATM machine outside a branch in Washington

Proposed class action targets BofA on foreclosures

Bank of America Corp was hit with a lawsuit on Wednesday claiming the lending giant hid foreclosure problems that eventually led to a decline in its share price.

U.S. Treasury Secretary Timothy Geithner gestures as he delivers his testimony before the Congressional Oversight Panel created to oversee the expenditure of the Troubled Asset Relief Program (TARP), on Capitol Hill in Washington, December 16, 2010.

In U.S. bailout, profit near on banks but foreclosures weigh

The U.S. Treasury said Wednesday it is close to turning a profit on direct bailout investments in the nation's banks, but still expects to post an overall loss in its financial bailout fund due to foreclosure prevention costs for homeowners.

Revenues are up, but what happened to the jobs?

Job growth still slow despite upward earnings, GDP growth

Thousands of foreclosed houses remain empty in U.S.

Empty homes litter U.S. as occupancy dwindles

The number of empty houses in the U.S. is close to 20 million, Census shows

DR Horton posts loss on foreclosures, joblessness

DR Horton Inc (DHI.N), the top U.S. homebuilder, reported a larger-than-expected quarterly loss, citing an increase in home foreclosures, and lingering anxiety among homebuyers that contributed to a sharp drop

New home sales rose to 329,000 in December

New home sales in the U.S. in December climbed to 329,000 on annual basis, official data showed on Wednesday, suggesting that the housing market remained moderately robust despite an unsustainable unemployment rate and high foreclosures.

Scott Stevenson stands outside the locked gate of a shuttered small manufacturing plant

Recession creating ‘lost generation’ of young Americans

Due to the dampening effects of the recession, migration within the U.S. crawled to its lowest rate in recorded history last year, potentially creating a ‘lost generation’ among Americans.

Home foreclosures in 2010 top 1 million for first time

Banks seized more than a million U.S. homes in one year for the first time last year, despite a slowdown in the last few months as questions around foreclosure processing arose, a leading firm said on Thursday.

2011 could be worst year for foreclosures: RealtyTrac

After repossessing more than a record 1 million homes in the U.S., banks are now poised to foreclosure on even more properties in 2011, according to Realty Trac Inc.

Bank shares falling on Mass. Court ruling on foreclosures

Bank shares are weakening after the Massachusetts State Supreme Judicial Court upheld a decision that two foreclosures from U.S. Bancorp (NYSE: USB) and Wells Fargo (NYSE: WFC) were not valid because the banks did not properly show they held the mortgages at the time of the foreclosure.

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