The Great American Foreclosure Story: The Struggle for Justice and a Place to Call Home
The story of how one woman went from a three-bedroom home to a tent is the story of how America ended up in a foreclosure crisis that still drags down the economy. More »
Is BofA's Foreclosure Review Really Independent? You Be the Judge
Bank of America and federal regulators say the Independent Foreclosure Review is just that — independent. But documents and interviews indicate it's not. More »
Secret Documents Show Weak Oversight of Key Foreclosure Program
The Obama administration trumpeted its flagship program to prevent foreclosures, known as HAMP. But it provided shockingly ineffective oversight. More »
Homeowner Survey Shows Banks Violating Gov’t Program Rules
Mortgage servicers regularly make errors and break the government’s loan modification rules, including giving no reasons for a loan’s rejection, homeowners report to ProPublica. More »
Profile: Delayed Then Denied
Profile: Fed Up, Giving Up
Profile: In Trial Limbo
Profile: For Some, a Modification
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updates since last visitFor Most Homeowners, Gov’t Foreclosure Deal Brings A Few Hundred Bucks
Bank regulators finally announced the details of a settlement with the biggest banks over foreclosure abuses. Most borrowers will receive $500 or less. And the details are confusing.
Feds Replace Flawed Foreclosure Review With Vague $8.5 Billion Settlement
Banking regulators admitted the Independent Foreclosure Review was a big expensive mess and shut it down. But many details about the $8.5 billion settlement that replaces it remain murky.
As Foreclosure Crisis Drags On, So Does Flawed Government Response
A look at the government's response as the foreclosure crisis enters its seventh year.
Cheat Sheet: BofA Supplied Default Answers for ‘Independent’ Foreclosure Claims Reviewers
The Independent Foreclosure Review, the government's main effort to compensate homeowners for harm by banks, is supposed to be independent from the banks. But in Bank of America's case, it wasn't.
Exec Who Allegedly Enabled Fraud Runs Chase’s Effort to Compensate Foreclosure Victims
A former Countrywide and Bank of America executive named by Justice Department lawyers as facilitating a scheme to defraud Fannie Mae and Freddie Mac now heads JPMorgan Chase's involvement in the Independent Foreclosure Review.
Secret Documents Show Weak Oversight of Key Foreclosure Program
The Obama administration trumpeted its flagship program to prevent foreclosures, known as HAMP. But it provided shockingly ineffective oversight.
Why Florida is Sitting on $300 Million Meant to Help Homeowners
Nearly eight months after a $25 billion foreclosure settlement was announced, Florida is one of the only states yet to decide what to do with its funds.
Where Are the Foreclosure Deal Millions Going in Your State?
We contacted every state to see how they are spending the money they received from the foreclosure settlement. Here’s the most comprehensive breakdown available anywhere.
Doubts About Independent Foreclosure Review Spread
Evidence emerges that the largest banks might be influencing the determination of who was victimized by their own practices.
Is BofA’s Foreclosure Review Really Independent? You Be the Judge
Bank of America and federal regulators say the Independent Foreclosure Review is just that — independent. But documents and interviews indicate it's not.
Foreclosure Fail: Study Pins Blame on Big Banks
A study by government and academic researchers finds that approximately 800,000 homeowners missed out on mortgage modifications because of big banks' poor performance.
Big Foreclosure Compensation, But Only for the Right Wrongs
Last month, the government released information on the compensation victims of the banks’ foreclosure practices might receive. For homeowners, it turns out that it’s crucially important just how the bank messed up.
Guiding You Through the Govt’s Foreclosure Compensation Maze
The government promises that harmed homeowners will get compensated —but its programs are confusing. We help navigate them.
Billion Dollar Bait & Switch: States Divert Foreclosure Deal Funds
Under the foreclosure settlement with big banks, states got $2.5 billion to help homeowners. But a comprehensive, state-by-state breakdown shows that almost a billion is going to general use.
Big Banks Slack on Maintaining Foreclosed Homes in Minority Areas, Complaint Charges
Housing advocates allege that Wells Fargo and U.S. Bank violated the Fair Housing Act by taking better care of foreclosed homes in white neighborhoods than in black and Latino neighborhoods.
Excerpt: At Goldman Sachs Servicer, ‘Total Disaster’
An employee at a mortgage servicer that was owned by Goldman describes the internal chaos that harmed thousands of homeowners and undermined the government's flagship foreclosure prevention program.
Ask Paul Kiel Your Questions on the Foreclosure Crisis
Six million American homeowners are facing foreclosure. Tomorrow, reporter Paul Kiel will field your questions about this mess.
The Great American Foreclosure Story: The Struggle for Justice and a Place to Call Home
The story of how one woman went from a three-bedroom home to a tent is the story of how America ended up in a foreclosure crisis that still drags down the economy.
Video: The Great American Foreclosure Song
Looking to get a handle on the foreclosure crisis, the loan modification fiasco, and the robo-signing scandal? We put it all in a music video.
Lack of Competition Stifles Refinance Program for Underwater Homeowners
A new report says borrowers who want to refinance mortgages under the government’s expanded Home Affordable Refinancing Program, or HARP, may not be getting the lowest rates because there’s little incentive for big banks to compete for business.
Breaking Down the Mortgage Settlement: How Far Does $26 Billion Go?
How much will homeowners be helped by the settlement? We do the numbers.
Four Whistleblowers Who Sounded the Alarm on Banks’ Mortgage Shenanigans
Whistleblower suits settled as part of the government's $25 billion settlement offer a glimpse at the kinds of behavior that ran rampant in big banks' mortgage operations.
What Do Republican Presidential Candidates Say on Foreclosure Crisis? Not Much.
Our guide to how the candidates say they would approach the housing crisis — when they speak about it at all.
Homeowners Who Negotiate Debt Relief Could Soon Face Massive Tax Bill
If Congress doesn't renew a key 2007 law, people who get a principal reduction on their mortgages or short-sell their homes could be forced to pay taxes on their "gain."
The Best, Most Revealing Reporting on the Foreclosure Crisis
Our roundup of standout reporting on the foreclosure mess.
How Citibank Dumped Lousy Mortgages on the Government
A lawsuit, which Citibank just settled for $158 million, reveals how the bank pushed risky loans o to the government's books.
Obama Housing Plans vs. Reality
Will anything come of the Obama administration’s plan for homeowners?
Will Mortgage Settlement Avoid Repeating Obama’s Foreclosure Failures?
Yesterday's mortgage settlement aims to avoid the pitfalls of the administration's floundering foreclosure program, but enforcement is again a question.
Why Millions Won’t Get Help From Big Mortgage Settlement
Freddie Mac and Fannie Mae's opposition to principal reductions on mortgages means about half of homeowners in the U.S. couldn't qualify for the most significant help from banks' settlement today with states.
Underwater Homeowners May Swim Freely
Pundits argue that when homeowners owe more on their house than it's worth, they find it hard to move to find jobs. One economist challenges the very foundation of their claim.
Still Waiting for Cleanup in Foreclosure Mess
If last year was the year in which faulty foreclosures and bank errors became a full-blown scandal, this has been the year of waiting for something to be done about it.
Flaws Jeopardize New Attempt to Help Homeowners
The Independent Foreclosure Review seeks to compensate homeowners victimized by big banks, but key elements remain undecided, unclear or secret, while lawmakers and homeowner advocates have criticized some of the known features.
Our FAQ on The National Foreclosure Settlement and Independent Foreclosure Review
Regulators have provided a bare-bones website and frequently asked questions about the foreclosure reviews. But we thought things could be even clearer for readers, so we are providing this FAQ.
Surprise on Refi Revamp: Key Regulator Agrees to Major Program Reforms
Federal Housing Finance Agency chief Edward DeMarco had blocked earlier efforts to help struggling homeowners, but now he’s signed onto a major change to encourage banks to refinance underwater mortgages.
Our Guide to Obama’s Floundering Foreclosure Programs
The Obama administration's efforts to address the foreclosure crisis have resulted in struggling programs, recycled ideas and little chance of significant improvement.
Secret Docs Show Foreclosure Watchdog Doesn’t Bark or Bite
Documents obtained by ProPublica suggest the government coddled mortgage servicers in its flagship foreclosure prevention program despite frequent and serious errors.
One Obstacle to Obama’s New Plan to Help Homeowners: A Gov’t Regulator
Obama wants to help hurting homeowners refinance into cheaper loans, but that hasn’t gone well so far, and efforts to fix it might be stymied.
Nevada Wallops Bank of America With Sweeping Suit; Nationwide Foreclosure Settlement in Peril
By vastly expanding its suit against Bank of America to include all major stages of the bank's mortgage practices, Nevada signals that the banks' mortgage troubles will likely continue to dog them.
Billions Meant for Struggling Homeowners May Pay Down Deficit Instead
An estimated $30 billion from the bailout that was slated to help homeowners is likely to be used to pay down the debt.
Internal Doc Reveals GMAC Filed False Document in Bid to Foreclose
An internal document obtained by ProPublica shows that when one of the nation's largest mortgage servicers sought to foreclose on a homeowner last year and lacked a crucial document, they just made one up.
FDIC Chairwoman: Mortgage Industry ‘Didn’t Think Borrowers Were Worth Helping’
As she steps down, regulator Sheila Bair criticizes the industry's warped incentives, "disdain for borrowers" and the Treasury's prioritization of banks over homeowners.
Bank Errors Continue to Cause Wrongful Foreclosures
Banks continue to blindside homeowners by foreclosing when the homeowners are still awaiting word on their application for a mortgage modification.
Better Late Than Never? Gov’t Finally Penalizes Major Banks for Mortgage Mod Failures
After two years of arguing that it had little power to punish banks for breaking the rules of its mortgage modification program, the administration has decided it’s finally time to crack down. But the punishment won’t do much damage to banks that count their profits in the billions.
Profiles: Shoddy Bank Practices Continue Even After Mortgage Mods
Many homeowners have received a mortgage modification only to find themselves once again at risk of foreclosure because of errors by their mortgage company. ProPublica investigated six of these cases.
Even After Mortgage Modification, Shoddy Bank Practices Hurt Homeowners
Many homeowners have been granted a hard-fought mortgage modification only to have their mortgage company effectively pull a bait and switch.
In Fine Print, Banks Require Struggling Homeowners to Waive Rights
Some banks and others who handle mortgages have been forcing homeowners into a corner: You want a chance at saving your home? Then you’ll have to waive your right to sue.
As Regulators and Banks Review Foreclosures, We’ll Be Watching
As regulators launch an unprecedented plan to compensate victims of wrongful foreclosures, ProPublica will be watching closely.
If you’ve worked for a servicer or on the Independent Foreclosure Review, contact our lead reporter.
- The State of HAMP
See the performance of all the mortgage servicers. - Making Home Affordable.gov
The administration’s web site for the foreclosure prevention program. Provides an FAQ, homeowner examples, and other tools to see whether you might qualify for the program. - Foreclosure Avoidance Counselors
A list of HUD-approved housing counseling agencies nationwide. - FTC Tips for Mortgage Servicing Consumers
Tips for homeowners from the Federal Trade Commission. - Program Guidelines for Mortgage Servicers
These rules lay out how mortgage servicers are supposed to conduct the program. - Calculated Risk
A finance and economics blog that provides news and metrics on the state of the housing market.
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