Foreclosures

The value of U.S. homes is expected to decline by more than $1.7 trillion during 2010, following a drop of more than $1 trillion in 2009, according to data from Zillow Real Estate Market Reports. Since the market peak of June 2006, U.S. housing has lost $9-trillion in value.

Sen. Jim Bunning, R-KY expressed anger Wednesday that the potential for another mortgage crisis remains, despite efforts to deal with the mortgage crisis over the past decade.

A Senate wrangle over soaring budget deficits on Tuesday stopped the passage of a crucial extension of unemployed benefits to millions of Americans experiencing the sting of the worst jobs crisis in three decades. The failure of the lame duck Congress to extend benefits will cut off sustenance payments to two million people in December, adding to the woes of home losses, bankruptcies and foreclosures, besides also setting back the economic recovery. Here's a quick lowdown on the situation.

U.S. home prices fell by 2.0 percent in the third quarter of 2010, after having risen 4.7 percent in the second quarter, according to data from S&P/Case-Shiller Home Price Indices.

U.S. home loan demand rose sharply in the week ended Nov. 19, reaching a two-year high, the Mortgage Bankers Association (MBA) said on Wednesday.

Existing home sales in the U.S. dropped in October after two months of strong increases, the National Association of Realtors said in a statement.

The nation that once gloated over its ability to feed the entire world is seeing an explosion of poverty: The number of people surviving on food stamps is rising as biting unemployment refuses to abate, personal incomes have been falling while the debt bubble is inflating with each passing day and, in a more startling representation of the grim reality, tent cities are mushrooming as more and more people are pushed out of their ‘underwater’ homes.

As “Black Friday” approaches next week, U. S. retailers are expecting a strong holiday season – at least, compared to the dismal performance of the past two years.

U.S. home loan demand fell sharply in the last week, as fixed mortgage rates rose from near all-time lows.

Home foreclosures in the U.S. in October fell by 9 percent primarily because some major banks temporarily froze foreclosure proceedings and delayed sales of foreclosed properties nationwide after being criticized for shoddy paperwork, according to real estate data company RealtyTrac.