News

Amidst the announcement of President Barack Obama’s housing plan, and with mortgage rates reaching historic lows, Seattle-based real estate web site Zillow.com reports record-breaking traffic and loan request activity within its free marketplace for custom mortgage quotes.

With President Obama’s recent proposal to provide $75 billion to help modify home loans, millions of Americans on the brink of foreclosure now have hope in sight. But what’s uncertain, particularly for those who are facing imminent foreclosure, is how quickly the assistance will funnel down the pipeline to homeowners.

Citigroup announced on Tuesday that it is initiating a new mortgage program to help the rising numbers of unemployed Americans hold onto their homes. The initiative is aimed at those homeowners whose economic conditions have changed because of the deteriorating national economy, leaving them unable to meet their mortgage obligations.

Washington, D.C.-based Fannie Mae reported a loss of $58.7 billion, or ($24.04) per diluted share for fiscal year 2008. The GSE’s annual deficit is a significant increase from 2007, when the company reported a loss of $2.

HOPE NOW, a foreclosure prevention alliance of mortgage servicers, non-profit counselors, and investors, today announced that its members and the larger mortgage lending industry modified 123,000 mortgages in January 2009.

According to a new report released Tuesday by the National Association of Realtors (NAR), pending home sales declined on the heels of a weakening economy as buyers awaited clarity on the federal government’s housing stimulus provisions.

According to a report released Tuesday by credit reporting agency TransUnion LLC, the ratio of borrowers 60 or more days past due on their mortgages increased for the eighth straight quarter, hitting a national average high of 4.

From foreclosure moratoriums to targeted community outreach programs, lenders across the country are stepping up their home retention efforts to tackle the foreclosure epidemic that has strangled the U.

The deteriorating economy is evident in recent consumer credit woes as bankruptcies, past-due credit card payments, and delinquent mortgages are beginning to pile up according to a new report by Equifax Inc.

Single-family home prices in Rhode Island during the month of January fell to the lowest level in about seven years, according to a report released today from The Warren Group. The Warren Group, which provides real estate research for the New England region, said the median selling price for single-family homes in Rhode Island in January fell 23.