Real Estate
States, Feds to Announce Mortgage Settlement
10:51AM 2/09/2012
JP Morgan Chase, Bank of America, Citigroup, Wells Fargo & Co, Real Estate
U.S. states have reached a $25 billion deal with the nation's biggest mortgage lenders over foreclosure abuses that occurred after the housing bubble burst. Federal and state officials announced the deal Thursday. It is the biggest settlement involving a single industry since a 1998 multistate tobacco deal.
Home Prices Dropped in November in Most US Cities
10:00AM 1/31/2012
U.S. home prices fell for a third straight month in nearly all cities tracked by a major index. The declines show that most homeowners are not reaping the benefits from some signs of an improving housing market. Prices dropped in November from October in 19 of the 20 cities tracked, according to the Standard & Poor's/Case-Shiller home-price index released Tuesday.
New-Home Purchases Fall, 2011 Worst Ever for Sales
11:00AM 1/26/2012
Fewer people bought new homes in December, making 2011 the worst sales year on record. The Commerce Department said Thursday new-home sales fell last month to a seasonally adjusted annual pace of 307,000. The pace is less than half the 700,000 that economists say must be sold in a healthy economy.
The nation's five largest mortgage lenders have agreed to overhaul their industry after deceptive foreclosure practices drove homeowners out of their homes, government officials said Monday. A draft settlement between the banks and U.S. states has been sent to state officials for review.
Home Sales Up at End of Dismal Year, Offering Hope
10:27AM 1/20/2012
Home sales rose in December to the highest pace in nearly a year. The gain coincides with other signs that show the troubled housing market improved at the end of last year. Still, sales remain depressed and ended 2011 well below healthy levels.
U.S. homebuilders are growing less pessimistic about the housing market, despite tighter lending standards that have slowed home sales. The National Association of Home Builders/Wells Fargo builder sentiment index rose four points to 25 in January. That's the highest level since June 2007. It's just the third time the index has been at 20 or above in two years.
The 10 Best U.S. Cities for Raising a Family
12:00PM 1/13/2012
Choosing where to raise your kids can be a deeply personal decision, but some things are universally desired, like good schools, health care and recreation. 24/7 Wall St. looked at these factors and more to identify the 10 best U.S. cities in which to raise a family.
Oh, the Irony! Bank of America Plaza in Atlanta Faces Foreclosure
11:40AM 1/09/2012
Atlanta's Bank of America Plaza is one of the 10 tallest structures in the U.S. And thanks to troubles at its namesake bank and other one-time tenants, the skyscraper could be one of the tallest foreclosure tales of the financial crisis.
Contract Signings for U.S. Homes Up in November
11:00AM 12/29/2011
The number of Americans who signed contracts to buy homes in November rose to the highest level in a year and a half. Normally, such a gain would suggest a turnaround for the depressed housing market. But a growing number of buyers are canceling their contracts at the last minute, making it a less reliable gauge.
Music Video Moves Bank of America on Stalled Mortgage Loan
12:30PM 12/28/2011
It might not be the right method for everyone seeking a home loan, but it worked for one Georgia couple: A music video that went viral got Bank of America to close on Ken and Meredith Williams' long-delayed mortgage.
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