Distressed

Corporations that own California properties could soon be fined for keeping homes vacant for more than three months under a proposed law to give tenants, nonprofits and cities more say over what happens to empty buildings.

For the first time in 15 years, fewer than 2 million mortgaged properties lie in default or foreclosure status as of the end of January, according to Black Knight.

Despite a healthy economy and booming real estate market, 2.2% of Orange County, Calif., mortgages were "seriously underwater" at year's end, Attom Data Solutions says.

The city's Residential Mortgage Foreclosure Diversion program, born out of the recession in 2008, has prevented nearly 14,000 foreclosures by working with lenders and homeowners to lower mortgage payments.

Mortgage delinquencies dropped to a 40-year low in the fourth quarter as strong employment bolstered borrowers' ability to make timely payments, the Mortgage Bankers Association said.

The city's decision to drop a lawsuit alleging predatory ending by Wells Fargo, JPMorgan Chase, Bank of America and Citigroup highlights the challenges municipalities face in taking on deep-pocketed financial institutions.

Default rates for prime jumbo mortgages will increase, but a strong economy and rising home prices will bail most borrowers and lenders out, Moody's said.

Foreclosure activity during 2019 fell 21% from the previous year, but a few indicators show a change in direction could be possible, according to Attom Data Solutions.

A former Fannie Mae employee is facing more than six years in federal prison for participating in a scam involving discount sales of properties owned by the government-sponsored enterprise.

Jon Leiberman rarely plays the lottery but he felt like he won it this past June.

The nationwide mortgage delinquency rate had its best October in at least two decades, while the foreclosure rate remained at a 20-year for the twelfth straight month, according to CoreLogic.

Vision Property Management has settled accusations made by New York regulators of predatory lending practices for a total of $3.75 million in cash and forgiven mortgage loan balances.

The delinquency rate for commercial mortgage-backed securities ended 2019 at its lowest point in nearly 11 years, aided by increased issuance and the resolution of legacy transactions, Fitch Ratings said.

The developer of three adjacent lots said one of the reasons for the sale was her time was up with her mortgage holders.

The city of Detroit is expanding property tax exemptions for homeowners to help more residents avoid foreclosure, officials announced Wednesday.

The owners of the former 3M corporate campus filed under Chapter 11 of the Bankruptcy Code, which cancelled a scheduled foreclosure auction of the Austin property.

Elizabeth Warren rolled out a plan to restore bankruptcy protections repealed in a 2005 law championed by Joe Biden, including those that involve mortgage lending.

Ramsey County, Minn. officials agreed to sell Wesely Pettiford's house back to his family, but obtaining financing to make badly needed repairs has been difficult.

There are an estimated 46,000 vacant homes in the San Francisco Bay Area, a surprising number in a region beset by a crippling housing shortage.

Whatcom County in northwestern Washington state went from falling prices and plenty of inventory in 2009 to high prices and low inventory in 2019