Freddie Mac

Over the past month, the so-called “foreclosure-gate” has been dominating the headlines. Millions of foreclosure proceedings have been halted over suspicion that bank and mortgage company employees used unverified or falsified documents to expedite home seizures. Bank of America froze foreclosures in all 50 states last week, and JPMorgan Chase and Ally Financial stopped proceedings [...]

Home sales rise in the spring as buyers rushed to take advantage of tax credits worth as much as $8,000. To qualify, buyers had to sign purchase contracts by April 30. Newly signed contracts plunged by 30% in May from the previous month, when the tax credit expired. Sales fell in most parts of the [...]