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Mortgage Defaults

U.S. Foreclosure Filings Hit 5-Year Low

AP | MARCY GORDON | Posted 12.10.2012 | Business

U.S. foreclosure filings dropped to a five-year low in September as fewer homes were on track to be seized by lenders. It was the secon...

Foreclosure-Mocking Law Firm Issues Apologies For Costumes

AP | CAROLYN THOMPSON | Posted 01.02.2012 | Business

BUFFALO, N.Y. — The head of a foreclosure law firm whose employees mocked victims of the mortgage crisis at a Halloween party last year apologiz...

Financial Fascism: Who Wins and Who Loses in the Economic War?

Vivian Norris | Posted 12.11.2011 | Business
Vivian Norris

So many people around the world support you. As your movement grows, it becomes the movement of ALL of us and the support is only growing. It is the humanity in the stories and the outrage which is beyond justified which is our strength.

Can You Pay Your Mortgage And Still Lose Your Home? One Family Did

Posted 10.15.2011 | Black Voices

AOL Real Estate reported last week on a Michigan family who lost their home despite never missing a mortgage payment. The culprit: creative financing,...

Taking on TARP

Dan Rather | Posted 08.08.2011 | Business
Dan Rather

"You can't look at what happened in the run-up to 2008 and see how it's not going to repeat itself, given what we've done," says Neil Barofksy, who became TARP's Special Inspector General in December, 2008.

Those Walking Away From Mortgages Aren't Who You'd Expect

AOL Real Estate | Catherine New | Posted 07.11.2011 | Business

Like so many American homeowners, he lost his job in the financial crisis and watched the value of his house plunge. Unable to modify his loan -- and ...

Shahien Nasiripour

Government May Force Big Banks To Reduce Loan Balances For Distressed Homeowners | Shahien Nasiripour | Posted 07.10.2011 | Business

The nation's five largest mortgage firms may be forced to reduce loan balances for distressed homeowners as part of an agreement with state attorneys ...

For Whom the Bell Tolls: Making the Best Choice for Borrowers in a Bad Situation

Roberto G. Quercia | Posted 05.25.2011 | Business
Roberto G. Quercia

Despite efforts by industry and elected officials to discourage it, more and more borrowers may choose to exercise their option to default.

NYT Study: Rich Are Biggest Mortgage Defaulters By Far

New York Times | Posted 05.25.2011 | Business

LOS ALTOS, Calif. -- No need for tears, but the well-off are losing their master suites and saying goodbye to their wine cellars. The housing bust th...

Broken Apartments In Defaulted Properties: Who Fixes Them?

AP | SAMANTHA GROSS | Posted 05.25.2011 | New York

NEW YORK — Step into Charlene Barton's apartment, and the first thing you smell is mold. The air by the door is thick with a vile steam. In the...

Bank Heist: It's Mortgages, Not Money

Dan Dorfman | Posted 05.25.2011 | Business
Dan Dorfman

This "bank heist," the brainchild of a brash hedge fund trader who used to receive seven-figure year-end bonuses, but who will soon be unemployed, centers on snaring a sharp reduction on one of his three mortgages.

American Dream 2: Default On Mortgage, Then Rent For Less

Wall Street Journal | MARK WHITEHOUSE | Posted 05.25.2011 | Business

PALMDALE, Calif. -- Schoolteacher Shana Richey misses the playroom she decorated with Glamour Girl decals for her daughters. Fireman Jay Fernandez mis...

Federal Housing Administration Subpoenas 15 Lenders With High Default Rates

AP | ALAN ZIBEL | Posted 05.25.2011 | Business

WASHINGTON — Federal housing officials on Tuesday served subpoenas on 15 mortgage companies with suspiciously high default rates for loans backe...

FHA Bailout: Federal Housing Agency Has Lowest Amount Of Cash On Record | Dawn Kopecki | Posted 05.25.2011 | Business

Nov. 12 (Bloomberg) -- The Federal Housing Administration's mortgage insurance reserves fell to the lowest level in history and the government said mo...

Shahien Nasiripour

If Morgan Stanley Walks Away, Why Shouldn't You? Firm Walks Away From 5 Properties | Shahien Nasiripour | Posted 05.25.2011 | Business

To the extent that Morgan Stanley is leading by example, the securities colossus is sending an unlikely message to underwater homeowners: Walk away. ...

SEE Where Mortgages Are Most Delinquent

Posted 05.25.2011 | Business

Where is the mortgage crisis wracking the most damage? These handy maps, courtesy of the New York Fed, track changes in mortgage delinquency rates by ...

Banks Don't Differentiate Between Successful Business and Suffering Industries

Grant Cardone | Posted 05.25.2011 | Business
Grant Cardone

Small businesses that depend on borrowed money to grow are unable access credit because banks are unable to see the difference between profitable companies and damaged industries.

New Wave Of Federally-Backed Mortgages Go Bad Without A Single Payment

Washington Post | Dina ElBoghdady and Dan Keating | Posted 05.25.2011 | Business

This decade's housing boom rendered the agency irrelevant. Americans raced to aggressive lenders, seduced by easy credit and loans with no upfront cos...

Geithner: Where Was the Beef?

Jeff Madrick | Posted 05.25.2011 | Business
Jeff Madrick

Fine principles aside, what's the actual plan in real life? Geithner is short on the details and that was disturbing. Is there still infighting among advisers on how to proceed?

Obama Needs a Mortgage Default Plan Fast

Jeff Madrick | Posted 05.25.2011 | Politics
Jeff Madrick

As of today, we hear the Obama team is talking about a plan to stabilize the market by buying or insuring bad assets. No plan can be perfect, but we need some plan quickly.

It's the Mortgages: How to Restore the Health and Stability of the Economy

Graciela Chichilnisky | Posted 05.25.2011 | Business
Graciela Chichilnisky

The true root cause of the financial crisis starts with the continued defaults on mortgages that magnify and snowball throughout the entire financial system.