Real Estate

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States Do Right and Wrong with Millions from Federal Settlement

By Bill Fay | October 23, 2012

Earlier this year, the federal government, the District of Columbia and 49 state attorneys general negotiated a financial agreement with five of the country’s largest banks: Ally (formerly GMAC), Bank…

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Class-Action Lawsuit Names 12 Banks Allegedly Involved in Illegally Altering Interest Rates

By Bill Fay | October 15, 2012

Annie Bell Adams may have recently lost her house to foreclosure but she’s fighting back. The 65-year-old pensioner is currently leading a class-action suit in New York against a dozen…

Home Sale Statistics Improve

Home Sales Rise to Two-Year High

By Bill Fay | September 27, 2012

Just when economists were prepared to report on the dismal state of the American real estate market for another quarter, new statistics revealed a much brighter account. Existing home sales…

House changing hands

Major Mortgage Lender Begins Selling Loans in Default

By Bill Fay | September 21, 2012

The Federal Housing Administration (FHA) recently developed a program to help homeowners facing possible foreclosure and to prevent an excess of defaulted mortgages and home loans. The new program, known…


Fannie Mae and Bank of America: Breaking Up Not So Hard to Do

By Bill Fay | September 20, 2012

Taxpayer-owned mortgage lender Fannie Mae wasn’t happy with how Bank of America serviced its mortgage loans and decided to find another partner. But instead of taking the loans back — as it could have under the agreement — Fannie Mae instead paid BOA millions for the right.

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Millions of Elderly Americans Face Foreclosure

By Bill Fay | September 17, 2012

America’s seniors were once considered among the most financially secure, with retirement at the top of the agenda. By the time people reached their 50s and 60s, Social Security and…

Home inspection

Computerized Property Appraisals Downplay Home Values

By Bill Fay | September 12, 2012

It may seem ideal to refinance a mortgage or obtain a home equity line of credit (HELOC) at a time while interest rates are at an all-time low, but some…

Row of houses

Citibank to Reopen Suspended Home Equity Accounts

By Bill Fay | September 10, 2012

Good news is on the way for homeowners who held home equity lines of credit (HELOCs) with Citibank. Many customers’ HELOCs were suddenly suspended or canceled over the last four…

Improving Housing Market

Increased Housing Prices Affect Affordability

By Bill Fay | September 5, 2012

As housing values inch their way up ever so slowly and the real estate market begins to recover, higher prices may actually make it a bit harder for some Americans…

Couple buying a home

Program Offers Down Payment Assistance to Boost Housing Market

By Bill Fay | August 31, 2012

As the nation works to recover from a struggling real estate market, an innovative program called CityLIFT has been unveiled in an effort to boost homeownership. The program will benefit…