Fitch: Sharp Rise Expected in Cost to Service Mortgage Loans

Fitch Ratings says housing recovery in the U.S. has been unhurried, and banks have been forced to shoulder higher foreclosure expenses. Fitch feels increased foreclosure costs comb

Ally Financial Reports Preliminary Fourth Quarter and Full Year 2011 Financial Results

NEW YORK, Feb. 2, 2012 /PRNewswire/ -- Ally Financial Inc. (Ally) today reported a net loss of $250 million for the fourth quarter of 2011, compared to a net loss of $210 million in the prior quarter and ...

Mortgage Reduction Deal 'Weeks' Away: Report (Update 1)

Updated with FHFA estimates of taxpayer costs for principal reduction in paragraph 15. NEW YORK (TheStreet) -- The draft of a $25 billion mortgage settlement between banks and U.S. states over deceptive foreclosure practices have been sent to state officials for review and could be adopted "within weeks", the Associated Press reported, citing anonymous officials familiar with the discussions ...

How To Delay Foreclosure

While losing a home can be a traumatic event for you and your family, its best to find ethical means of delaying or avoiding foreclosure, even if it takes more time.

Business news in brief

American Airlines baggage handlers check luggage at the Dallas-Fort Worth airport. American's parent, AMR Corp., says it lost $904 million in December - more than in the first nine months of 2011 combined.