Americans applied to buy homes at the highest pace last week since May, but more than 8 of every 10 loan requests was for a refinancing, Mortgage Bankers Association data show.
The Obama administration is trying to jump-start its sputtering attempts to tackle the foreclosure crisis with an effort to assist homeowners who owe more on their properties than their homes are worth.
The developers planning to build a $100 million Islamic center near the World Trade Center site are nearly a quarter-million dollars behind on real estate taxes and late fees.
The number of buyers who signed contracts to purchase previously occupied homes increased in July but remained well below last year's levels, a sign that demand for housing remains weak.
A broad swath of homeowners — those not headed for the worst-case scenario of foreclosure — are nonetheless grappling with the impact of lost home equity.
Mortgage applications rose 2.7 percent last week as more borrowers took advantage of the lowest rates in decades to reduce their monthly loan payments.
You look back 10 years, what did you get? A little bit cleaner and deeper in debt. With apologies to Tennessee Ernie Ford, that’s a brief synopsis of how U.S. home life has changed during the past decade.
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