Rising FHA default rate foreshadows a crush of foreclosures
Rising FHA default rate foreshadows a crush of foreclosures
Feb. 2, 2010 — The Washington Post
The share of borrowers who are falling seriously behind on loans backed by the Federal Housing Administration jumped by more than a third in the past year, foreshadowing a crush of foreclosures that could further buffet an agency vital to the housing market's recovery.
Cloudy Future for Fannie and Freddie
Feb. 2, 2010 — The New York Times
The Great Bailout is mostly over for the banks. But for those troubled behemoths of the nation’s housing bust, Fannie Mae and Freddie Mac, the lifeline from Washington just keeps getting longer.
No Mortgage, Still Foreclosed? Bank of America Sued for Seizing Wrong Homes
Jan. 25, 2010 — ABC News
Some 2.8 million homeowners faced the threat of foreclosure last year, but it wasn't supposed to happen to Charlie and Maria Cordoso. In 2005, the New Bedford, Mass. couple paid in full -- in cash -- for a house in Springville, Fla., and rented it out with plans eventually to use the home as a retirement getaway.
Move is on for non-court Florida foreclosures
Jan. 31, 2010 — News-Press.com
A proposal by the Florida Bankers Association to allow foreclosures without a court hearing is arousing violent sentiments on both sides of the issue in Southwest Florida.
Pending home sales edge up, vacancies rise
Feb. 2, 2010 — Reuters
But the housing recovery remains slow and painful, with other data showing the percentage of empty privately owned homes rose to 2.7 percent in the final three months of 2009 from 2.6 percent in the third quarter.