When earthquake experts are sentenced for bad predictions and lenders accused of bad calls on mortgages, society needs a reminder that individuals are responsible for their actions.
If your home loan is serviced by one of the five major lenders – including Bank of America and Wells Fargo – you may be entitled to a share of one of the largest civil settlements in history.
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.