home foreclosures

(Penn State) With mortgage loan defaults on the rise yet again, two mortgage researchers are proposing a new type of mortgage contract that automatically resets the balance and the monthly payment based on the mortgaged home's market value.

The pace of U.S. home foreclosures may not slow much after all. Bank of America said Monday that it plans to resume seizing more than 100,000 homes in 23 states next week.

President Barack Obama has rejected a bill that the White House fears could worsen the mounting problems caused by flawed or misleading documents used by banks in home foreclosures.

Lenders are ramping up efforts to avoid home foreclosures, but a report by bank regulators says more than half of borrowers who get help fall behind again.

Nearly two years after the federal government moved to slow home foreclosures, a third major effort is turning into another painful disappointment.

As home foreclosures mount, mortgage companies are knocking on doors, sending letters and making phone calls with a simple message for struggling homeowners: They'd rather modify your loan than foreclose.

Gov. Ted Kulongoski signed two new consumer protection bills Thursday, including one aimed at reducing the number of home foreclosures in Oregon.

Federal Reserve Chairman Ben Bernanke likely will face tough questions this week from lawmakers about taxpayer bailouts of financial companies, slow-moving government efforts to curb home foreclosures and the possibility that the Fed's unprecedented steps to stimulate the economy could spur inflation later on.

Relentlessly rising unemployment is triggering more home foreclosures, threatening the Obama administration's efforts to end the housing crisis and diminishing hopes the economy will rebound with vigor.

New York's attorney general says consumers do not have to pay upfront fees to companies that promise help in staving off home foreclosures.