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Democratic lawmakers on Monday urged regulators to keep their promise to release a report by the end of the year that details an independent review of millions of borrowers who faced foreclosure.
November 18 -
Underwater homeowners in New York state may soon have a new way to reduce the principal on their mortgages.
December 10 -
U.S. consumers increased their debt in the third quarter by the largest amount since early 2008, the Federal Reserve Bank of New York said Thursday.
November 14
The number of homes in foreclosure fell sharply in the third quarter as fewer and fewer borrowers fell behind on their mortgages, according to a
More than 91% of mortgages were current and performing at the end of the third quarter, compared with 88.6% in the same period a year ago. Mortgages that were 60 days or more past due or more than 30 days past due and held by bankrupt borrowers fell to 3.6%, down from 4.4% during the same period in 2012.
Early-stage delinquencies defined as mortgages between 30 and 59 days past due also declined. They fell to 2.6%, down from 3.1% in the third quarter of 2012.
The number of homes in foreclosure fell to 604,763, down 48% from the same period a year ago. The number of completed foreclosures dipped to 82,841, a 28% decrease year-to-year. Brightening economic conditions, foreclosure prevention efforts and loan transfers all played a role in reducing the number of Americans who lost their homes, according to the report.
