MORTGAGE RATES » Home Mortgage Loan News

President Barack Obama is set to announce a new mortgage refinance program on Wednesday that aims to help borrowers take advantage of historically low interest rates. The program is said to expand on previous attempts at refinancing for troubled borrowers and will grant more homeowners eligibility.

Obama Refinance Program to Help Troubled Homeowners

The sale of homes in foreclosure was still an issue for the housing market in the third quarter of 2011, according to a new report from RealtyTrac. President Barack Obama announced plans to develop a housing task force that will tackle improper mortgage loan bundling, one of the issues that helped the financial system crumble in 2008.

Foreclosure Sales Comprise 20 Percent of Sales

A new home refinance program was proposed during President Barack Obama‘s State of the Union address on Tuesday night that would impact borrowers with privately-held mortgages. The program was among many economic topics addressed in the speech, including income and tax equality, payroll tax cuts and the need for a united Congress.

Home Refinance Program to Lower Interest Rates

The number of foreclosures throughout the U.S. has been extremely high over the past few years, but according to new data generated for CNNMoney by RealtyTrac, the majority of zip codes hit hardest are situated in western states. The report also found that, in addition to a suffering economy, the significant increase in REO homes sold has left the housing sector in peril, making it difficult for the industry to bounce back.

Foreclosures Highest in Middle-Income Western Zip Codes

By Jenny Kerr

While many women put off buying a home because they are waiting for a family, a better job or simply out of fear, you might be surprised to find that home ownership rates are higher for single women than single men.

Hundreds of thousands of foreclosure cases facing reviews ordered by regulators last year may take months longer than originally expected, according to documents filed with federal banking regulators this week. The delays noted by Bank of America and JPMorgan Chase will impact the time frame that homeowners could expect to receive settlement compensation for improper foreclosure actions.

Bank of America Requests New Foreclosure Deadlines

The number of home foreclosures fell by 33 percent last year, according a new report released by RealtyTrac. While the numbers looked good for the year, the company explains that the drop was attributed to a continued backlog of paperwork, not necessarily an improvement in the housing market.

Foreclosure Filings Fall to 3-Year Low

Pending home sales of existing U.S. properties jumped to a 1-1/2 year high in November, according to data released on Thursday.

However, despite this data showing improvement in the U.S. housing market for the month, other findings released earlier show that the sector may still be on a rocky ride toward recovery.

Pending Home Sales Highest Since April 2010

A Bank of America Settlement has been reached, which requires them to pay a record $335 million to compensate Countrywide Financial Corp. borrowers who were charged more for mortgage loans based on national origin or race. The U.S. Justice Department announced on Wednesday that Bank of America will be responsible for repaying black and Hispanic customers who were affected in the unfair lending settlement.

Countrywide Minority Borrowers Charged Higher Fees

Short sales and foreclosures (REOs) made up 46 percent of homes sold in November, according to a new survey conducted by Campbell/Inside Mortgage Finance. The survey, released on Tuesday, showed just how difficult it has been for the U.S. housing market to bounce back from its crisis.

Foreclosures and Short Sales Offer Major Discounts