Mortgage refinancing would have benefited them last year, Fed study says. But 2.3 million either were 'underwater' or didn't have credit scores to qualify for mortgage refinancing.
Faulty mortgage loans were a major contributor to the recession and now a US regulator is suing 17 big banks for their role in those faulty loans.
Government lawsuit claims 17 banks, including Bank of America, Citigroup, and JP Morgan, misrepresented the value of $196 billion worth of mortgage-backed securities when it sold them to Fannie Mae and Freddie Mac.
Home prices fell sharply during the first quarter of 2011, according to the S&P/Case-Shiller index. The 'double dip' means they dropped below their Great Recession low point, reached in early 2009.
The Dow rose about 38 points, with DuPont rising and Verizon falling. The Nasdaq rose about 15 points.
US new home sales skidded to a record low in February, except for one category: homes under $200,000. Goodbye, McMansions.
Home prices peaked in the US five years ago. Here is a look at the key issues affecting home prices as the spring real estate market approaches.
US home prices fell 1 percent in November compared with the previous month, according to a widely followed 20-city index released by Standard & Poor's Tuesday. It's the latest sign that, five years after home prices peaked, the housing market remains an important weak link in the economy. Still, housing experts say 2011 could be a pivotal year when home prices bottom out and a more stable environment begins to emerge. Here's a look at the key issues.
Ben Bernanke believes that making people feel richer is the key to generating actual wealth. Is he right? We're about to find out.
Will QE2 accelerate the national and international economic decline?