WASHINGTON - The Bush administration announced a new mortgage industry coalition on Wednesday aimed at helping homeowners avoid being trapped in a rising tide of foreclosures.
Treasury Secretary Henry Paulson said the initiative would boost financial companies’ efforts to help an estimated 2 million homeowners whose introductory mortgages with low rates are resetting at much higher […]

A friend of mine bought 3 houses about a year or two ago, speculating that housing prices will go up. With no strategy in mind he recently lost his job and was stuck with 3 mortgage payments. He is a victim of a sub prime loan. I was puzzled when he got approved on all […]

Home resales slipped for the sixth month in a row in August as the credit squeeze forced many sales to fall through, the National Association of Realtors reported Tuesday. With sales of existing homes falling 4.3% to a five-year seasonally adjusted low, inventories of unsold single-family homes rose to an 18-year high. Meanwhile, a separate […]