ALBANY, N.Y. (AP) — New York and California have agreed to sign the proposed settlement between U.S. states and the nation’s biggest mortgage lenders over foreclosure abuses, according to a source close to the negotiations. SEE ALSO: NYPD Chief’s Son Won’t Face Rape Charges Bank of America, JPMorgan Chase, Wells Fargo, Citibank and Ally Financial […]

WASHINGTON — Americans bought slightly more new homes in October, a hopeful sign for the troubled housing market. But the median sales price fell to its lowest level of the year, and the overall sales pace is trailing last year’s – the worst in half a century. RELATED: 10 Top Markets For Bargain Hunters The […]

DETROIT — About 16,000 employees at five Detroit-based companies will be offered $4 million in loans and rent subsidies to move in or near the city’s downtown under an incentive program announced Monday aimed at rebuilding the city’s residential base. Officials with Blue Cross Blue Shield of Michigan, Compuware Corp. ( CPWR – news – […]

Borrowers whose credit scores fall below standards are finding it easier to access a home loan, as lenders are once again welcoming subprime markets. Not since the financial crisis have lenders been willing to invest in buyers with questionable credit. According to reports, a number of private firms are becoming increasingly willing to accept alternative […]

Washington– The Obama administration will spend less than a quarter of the $50 billion it promised to help homeowners facing foreclosure, the nonpartisan Congressional Budget Office said in a report Monday.