U.S. Housing Market

Foreclosures rise again

Foreclosures rise again

Lenders took back more homes in August than in any month since the start of the U.S. mortgage crisis. The increase in home repossessions came even as the number of properties entering the foreclosure process slowed for the seventh month in a row, foreclosure listing firm RealtyTrac Inc. said Thursday. In all, banks repossessed 95,364 […]

No decision yet on new homeowner tax credit

No decision yet on new homeowner tax credit

The Obama administration has not decided whether it should resurrect a popular tax credit for first-time homebuyers, Housing and Urban Development Secretary Shaun Donovan said on Sunday. “It’s too early to say whether the tax credit will be revived,” Donovan said in an interview on CNN’s “State of the Union” program. He said the administration […]

Feds fudged on mortgage bailout failure numbers

Feds fudged on mortgage bailout failure numbers

The Obama administration on Friday acknowledged it had underestimated the number of homeowners who fell seriously behind on their mortgage payments even after getting government help. Treasury officials blamed the error on mortgage finance giant Fannie Mae, which acts as the program administrator for President Barack Obama’s $50 billion Home Affordable Modification Program (HAMP). The […]