Short sales

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Ocwen Financial Corp. is being examined over whether it improperly stalled short sales by borrowers who owe more than their homes are worth

The number of homeowners who were in negative equity just two years ago has fallen by more than 40% through the third quarter, according to data from Zillow.

The Senate approved a bill late Tuesday that would retroactively extend over 50 expiring tax provisions for one years, including one that shields distressed homeowners from paying taxes on any mortgage debt forgiven in a short sale.

Borrowers who have made five years of payments on their modified loans will be eligible to earn $5,000 in the next year to reduce their outstanding balance.

Home prices experienced a 0.01% decline in September, though they are up 4.6% from the same time last year, according to the Black Knight Home Price Index.