The Obama administration's embattled mortgage relief plan has provided permanent help to only 4 percent of borrowers who have signed up, weak results that could threaten the housing market's recovery.
With expectations for millions of foreclosures, lenders have converted only 31,382 troubled mortgages for homeowners participating in an administration mortgage assistance program into permanent, more affordable loans.
DES MOINES, Iowa----Wells Fargo & Company said today that it continues to expand its use of the federal Home Affordable Modification Program and its other modification programs to reduce the number of foreclosed homes across the country.
Shares of asset manager T.Rowe Price lead all financial sector gainers after the firm's decision to enter the ETF market drew praise and an upgrade from researchers at Jefferies.
Citigroup Inc is talking with the U.S. government about paying back its bailout money, but it is not clear whether a deal is imminent, a person familiar with the matter said on Thursday.
While there was an improvement in the rate of home foreclosure activity from October to November, the fourth month of declines, RealtyTrac senior vice president, Rick Sharga, warns "be careful of false positive trends."
The number of homeowners on the brink of foreclosure fell in November, the fourth straight monthly decline, as mortgage companies evaluated whether borrowers were eligible for help.
Don't pay your mortgage, and eventually the bank will own your home. That's what's happening to Resorts Atlantic City, which enjoys a special spot on the national gambling scene as the first U.S. casino outside Nevada.
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