LOS ANGELES — Foreclosures are helping to thin the ranks of U.S. homes with mortgages that exceed what the properties are worth, new data shows. Related posts Pennsylvania Real Estate selling power centers MGIC added $1.2B in mortgage coverage in August Home lending pace rises; most are refinancings
NEW YORK (CNNMoney.com) — Stop me if you’ve heard this before. The housing market is still in shambles. Existing home sales plummeted in July. New home sales sunk as well, hitting a record low. And even though luxury homebuilder Toll Brothers reported a surprise quarterly profit Wednesday, that was largely due to a tax break. [...]
NEW YORK (CNNMoney.com) — Fewer mortgage borrowers are delinquent on their loan payments, according to the latest data from the Mortgage Bankers Association. The nation’s overall delinquency rate dropped to 9.85% in the second quarter, down from 10.06% of all loans outstanding three months earlier. Even better, the percentage of seriously delinquent loans — ones [...]