As housing prices recover, short sales have become an increasingly popular escape route for indebted homeowners. But the future of short sales depends on a tax cut extension from Congress that may or may not come, and realtors argue that housing prices haven't rebounded enough for many homeowners to afford their debt forgiveness as a tax.
Home prices increased 0.2 percent since June, according to the latest house price index from the Federal Housing Finance Agency. Home prices rose 3.90 percent above the level seen in July 2011.
Rising home values and declining foreclosure rates indicate a slow but steady recovery for the US housing market. Obstacles remain, however, including negative equity due to 'underwater' mortgages.
All measures of single family delinquency continued to decline in July, according to the latest Fannie Mae Monthly Summary.
Rep. Paul Ryan, Mitt Romney's running mate, is best known for drawing up a series of spending-and-tax plans meant to challenge the Obama administration's policies from the right. But it's been some time since his latest budget, which Mr. Ryan terms a "path to prosperity," was released. Here's a primer on what's in it.
President Obama has proposed a plan that would make mortgage refinancing easier and more widely available. Do you qualify?
In March, home prices increased 1.78 percent since February, rising 2.69 percent above the level seen in March 2011.