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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: mortgage delinquency

mortgage delinquency stories: 22 news summaries

1 - 20 of 22 Stories | 1 2 Next >>

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(Newser) - Homeowners aren’t the only ones walking away from their underwater mortgages. With the hotel market at its lowest point since the early '90s, many owners, who owe more on their money-losing properties than they’re worth, are simply walking away, the Wall Street Journal reports. Many say they... More »

MORE ABOUT:
foreclosure • hotel • mortgage backed securities • mortgage delinquency

(Newser) - The government's foreclosure prevention program is failing largely because of mortgage companies who can make more money when loans go delinquent, industry insiders tell the New York Times. Companies servicing mortgage loans charge many lucrative fees as loans go bad—recoverable, if necessary, out of the proceeds when the foreclosed... More »

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foreclosure • mortgage • mortgage loans • mortgage lender • mortgage delinquency • Obama administration • mortgage modification

MARKETS

 Confidence Sags; Dow Off 82 

But all indices see gains in second quarter

Jun 30, 09 3:23 PM CDT
(Newser) - Stocks fell today on an unexpected decline in consumer confidence, the Wall Street Journal reports, after investors held steady at the open despite data that delinquencies on prime mortgages had increased. The consumer-confidence drop came after two months of positive readings. The Dow closed down 82.38 at 8,447.... More »

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Dow Jones • consumer confidence • Nasdaq • S&P 500 • consumer confidence index • mortgage delinquency

 Mortgage Rates 
 Hit 3-Month High 

Housing and consumer-spending rebound hopes endangered

May 29, 09 7:28 AM CDT
(Newser) - Mortgage rates jumped to a three-month high yesterday, putting hopes for a rebound in the housing market and consumer spending at risk, the Wall Street Journal reports. The average 30-year fixed rate hit 5.44% from 5.29% the day before and 5.03% Tuesday. The rates make it tougher... More »

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housing market • consumer spending • mortgage rates • mortgage defaults • mortgage delinquency

Perspective

 Credit Crisis Traps 
 NYT Economics Scribe 


May 16, 09 6:55 PM CDT
(Newser) - New York Times economics reporter Edmund Andrews was smart enough to avoid a financial disaster like the mortgage crisis. But “I had two utterly compelling reasons for taking the plunge,” he writes: “The money was there and I was in love.” With a new fiancée—... More »

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New York Times • subprime mortgages • mortgage • mortgage defaults • mortgage delinquency • financial crisis

 Foreclosures Rose 
 24% in First Quarter 

Rate expected to rise through the summer

Apr 16, 09 8:31 AM CDT
(AP) - The number of American households threatened with losing their homes grew 24% in the first 3 months of this year and is poised to rise further as major lenders restart foreclosures after a temporary moratorium, figures out today show. Though the Obama administration has invested $75 billion to help up... More »

MORE ABOUT:
foreclosure • refinanced mortgages • housing crisis • mortgage delinquency • Obama administration • financial crisis • refinancing

(Newser) - Commercial real-estate borrowers are defaulting on their loans at an ever-faster pace, and experts now believe the crisis could match or exceed the early-1990s slump, the Wall Street Journal reports. That catastrophe killed off 1,000 banks and savings institutions, with lenders taking $48.5 billion in charges. This... More »

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bankruptcy • recession • mortgage backed securities • commercial real estate • mortgage delinquency • financial crisis

 Scammers Set Sights on 
 Desperate Homeowners 

Calif. AG: Be 'deeply skeptical' of offers to help refinance

Mar 16, 09 2:00 PM CDT
(Newser) - A record 5.4 million homeowners across the country are behind on their mortgages, and scam artists are looking to cash in, the San Francisco Chronicle reports. Ads offering help lowering mortgage payments are everywhere. But these "loan negotiators" usually provide services that homeowners can handle on their own,... More »

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housing market • foreclosure • scam • mortgage rates • refinanced mortgages • economic stimulus package • mortgage delinquency

Boom-Time Loans
Cripple Churches


Mar 14, 09 6:23 PM CDT
(Newser) - Even houses of worship are facing foreclosures and unpaid bills these days, the AP reports. With credit markets dried up, churches and synagogues—normally rock-solid in recessions—are abandoning half-built properties and scrambling to find a home. "We now have children who don't have classrooms to get into, adults... More »

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foreclosure • credit crisis • synagogue • mortgage delinquency • churches

Citi Offers Jobless Lower Mortgage Payments

Recently unemployed can drop payments to average of $500

Mar 3, 09 7:25 AM CST
(Newser) - Citigroup is announcing a new program easing mortgage payments to an average of $500 a month for homeowners who have lost their jobs and fallen behind on their debts, reports the Wall Street Journal. Borrowers will be allowed to make the lower payments for 3 months and will pay no... More »

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Citigroup • mortgage • mortgage loans • housing crisis • mortgage delinquency

 Octu-Mom, 
 Grandma 
 Face Off 
 in New Vid 

Mom rips daughter for irresponsibility

Feb 24, 09 9:09 AM CST
(Newser) - Octuplet mom Nadya Suleman and her own mother, Angela, have been sniping at each other in interviews—and now a video from Radar captures their first face-off. The bizarre sit-down includes an argument over how Nadya could have dealt with her frozen embryos and Angela’s apparent suggestion that she... More »

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in vitro fertilization • foreclosure • online videos • multiple births • mortgage delinquency • octuplets • Nadya Suleman • Angela Suleman

ANALYSIS

Mortgage Plan Relies on Incentives, Lacks Muscle

Proposal does does little to address securitized mortgages

Feb 19, 09 9:14 AM CST
(Newser) - The Obama administration’s foreclosure-prevention plan contains more carrots than sticks, relying heavily on incentives designed to prod mortgage servicers to modify at-risk loans, the Wall Street Journal reports. The plan offers monetary rewards to mortgage companies that lower interest rates on delinquent mortgages, and reduces principal for borrowers who... More »

MORE ABOUT:
Barack Obama • foreclosure • mortgage backed securities • housing crisis • mortgage defaults • mortgage delinquency • Obama administration • financial crisis • President Obama

 Jumbo Mortgage Defaults Soar 

Banks and investors brace for a new wave of defaults as jumbo loans default

Jan 28, 09 8:33 AM CST
(Newser) - Jumbo mortgages are now going south at an alarming rate, reports the Wall Street Journal, as affluent Americans face mounting layoffs and see their stock portfolios shrivel. Nearly 7% of prime jumbo loans—which average $750,000—were at least 90 days delinquent at the end of 2008, up from... More »

MORE ABOUT:
foreclosure • mortgage delinquency • JPMorgan Chase • financial crisis • Jamie Dimon • jumbo mortgages

At-Risk Owners Pay Big Bucks to Mortgage Modifiers

Some take advantage of patchwork laws, charge for services non-profits offer for free

Dec 26, 08 10:44 AM CST
(Newser) - A growing mortgage-modification industry has cropped up amid the housing bust, the Washington Post reports, charging homeowners thousands to help them negotiate better loans. The problem? Non-profit groups already offer those services gratis. “It is very frustrating to find a homeowner who has paid a for-profit company $3,000... More »

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foreclosure • mortgage • nonprofit • Housing and Urban Development • refinanced mortgages • mortgage delinquency • financial crisis

White House Slams NYT Story as 'Gross Negligence'

Perino: Shoddy 'reporting' behind housing crisis story

Dec 21, 08 6:40 PM CST
(Newser) - The White House accused the New York Times of “gross negligence” today in response to a page one story that largely places the housing and financial messes at the feet of Bush policies, Politico reports. “The Times’ ‘reporting’ in this story amounted to finding selected quotes to... More »

MORE ABOUT:
Bush administration • New York Times • mortgage • Dana Perino • housing crisis • mortgage delinquency • George W. Bush • financial meltdown

ANALYSIS

 How Bush 
 Fueled the 
 Mortgage 
 Mess 

His philosophy at center of housing crisis

Dec 21, 08 6:52 AM CST
(Newser) - A range of factors led to the housing crisis that dragged the economy into the toilet—but President Bush’s philosophy likely played a key role in the collapse, reports the New York Times. Dozens of interviews point to both Bush’s drive to expand homeownership and his steadfast belief... More »

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Bush administration • philosophy • mortgage • market • homeownership • housing crisis • mortgage delinquency • George W. Bush

Bailout Turns
to Shore Up
Credit Unions

$41B will focus on largest; most haven't seen a dime yet

Dec 9, 08 10:39 AM CST
(Newser) - Largely overlooked by federal regulators managing the bailout, credit unions will receive  $41 billion in lending to brace a handful of the largest institutions in a plan expected to be announced this week, the Wall Street Journal reports. The plan is intended to bring relief to as many as 10,... More »

MORE ABOUT:
mortgage backed securities • bailout • mortgage delinquency • credit unions • Troubled Asset Relief Program • financial crisis

Bernanke Plugs More Help
for US Homeowners

Fed chief outlines ideas for public, private sector to slow foreclosures

Dec 4, 08 4:54 PM CST
(Newser) - Ben Bernanke says more must be done to halt record US home-foreclosure rates, the New York Times reports. The Federal Reserve chief suggested several options today, including the government buying bad mortgages en masse and refinancing them through a government-insured program, and strengthening a scheme aimed at lowering homeowners’ monthly... More »

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Ben Bernanke • Federal Reserve • foreclosure • mortgage • mortgage rates • mortgage debt • housing bubble • mortgage defaults • mortgage delinquency • financial crisis

Citi to Aid Homeowners by Modifying $20B in Mortgages

The bank will amend mortgages to assist 130,000 borrowers

Nov 11, 08 7:31 AM CST
(Newser) - Citigroup will modify up to $20 billion in mortgages for borrowers current on their payments but at risk of falling behind, the bank announced this morning, mirroring similar moves by Bank of America and JPMorgan Chase. Citi will reach out to half a million borrowers, ultimately reducing monthly payments for... More »

MORE ABOUT:
Citigroup • Bank of America • subprime crisis • mortgage defaults • mortgage delinquency • JPMorgan Chase • credit market chaos • financial crisis

FDIC Plan Tests Strategies for
Keeping People in Homes

Systematic reworking faces typical hurdles

Nov 1, 08 6:48 AM CDT
(Newser) - The first large-scale experiment in how to keep struggling borrowers in their homes is being run by the FDIC at seized mortgage lender IndyMac, the Wall Street Journal reports, and the results are mixed. Of some 65,000 borrowers with “seriously delinquent” mortgages, about 47,000 qualify for aid... More »

MORE ABOUT:
IndyMac • FDIC • mortgage lender • refinanced mortgages • subprime crisis • mortgage delinquency

1 - 20 of 22 Stories | 1 2 Next >>


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