Rock-bottom home prices have finally begun to lure vulture real estate investors into the fray.
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Hope Now, the mortgage industry alliance of lenders, servicers and housing counselors, reported Wednesday that it helped roughly 170,000 homeowners avoid foreclosure in the month of May.
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The effects of the foreclosure crisis are rippling throughout the country - and even the rich and famous are not immune.
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Even the lofty Manhattan real estate market is beginning to soften, according to reports released Wednesday by four of the city's top real estate agencies.
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An omnibus housing rescue package, some elements of which have been debated in Congress for years, had been on track Wednesday to finally move toward enactment but hit a speed bump that puts in question when lawmakers will vote.
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Sales of existing homes rose slightly more than expected in May as home buyers responded to plummeting home prices, according to an industry trade group.
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U.S. home prices posted record declines in April, extending a painful losing streak for U.S. home prices.
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Jessie Prado sees himself as a bit of a trailblazer. His house in Boca Raton, Florida is easy to pick out. It's the only one with solar panels - and solar power. He, as well as his power company, Florida Power and Light, are making an investment in solar power in the Sunshine State.
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Time will tell if Bank of America's purchase of Countrywide Financial Corp. winds up being a bargain or a boondoggle.
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On Wednesday there was some good news for California, which has been one of the hardest hit states in the housing crisis, when a local realtor group said that sales there jumped 18% in May compared to May 2007.
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When prices were soaring, credit was flowing and selling was as easy as jamming a FOR SALE sign into your front lawn, the simplest way to upgrade your home was to sell and get the heck out of it. In other words, move to a bigger and better one.
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While Congress has talked for a year about a federal response to the foreclosure crisis, attorneys general have been busy helping troubled homeowners at the state level.
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