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The risks in commercial real estate loans and securities have “been reduced” and are not expected to threaten the overall health of the financial system, the U.S. Federal Reserve says. "It appears that worst-case scenarios are becoming...
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Bank of America Corp. is splitting its mortgage business into two units in order to get a better handle on the flood of foreclosures. Bank of America’s new unit, Legacy Asset Servicing, will be charged with resolving issues involving faulty paperwork...
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More than 30,000 U.S. home owners are facing foreclosure after defaulting on their reverse mortgages. Reverse mortgages are a type of home-equity loan only available to home owners 62 years old or older. These home owners tapped into the equity of their...
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The number of foreclosure filings in 2010 among veterans, active-duty troops, and reservists rose 32 percent over 2008, reports RealtyTrac, a foreclosure research firm. More than 20,000 of the military members who took out special government-backed mortgages...
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While renting offers zero tax breaks, buying a home offers several tax benefits that can make homeownership more affordable. Real estate professionals need to be careful in providing detailed tax advice to clients to avoid lawsuits, but you can ensure...
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