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Foreclosure Crisis

How Banks and Government Fail Homeowners

Systemic failures at the country's banks and mortgage servicers have exacerbated the most severe foreclosure crisis since the Great Depression, making it extremely difficult for struggling homeowners to win a loan modification. Government efforts to limit the damage have fallen woefully

Homeowners Trying To Get Loan Mods: Where They Stand Now

We are checking back with some of the homeowners we’ve profiled over the past year. Some homeowners received modifications that prevented foreclosure, some are still in limbo and others have moved on. Now, we're checking back with some of the homeowners we've profiled over the past year.

Where Things Stand: Foreclosure Paperwork Scandal

In a scandal that's ballooned in scope since the initial discovery of robo-signers, we review the status of investigations into foreclosure fraud, how courts are handling the mess and what solutions are on the horizon.

One 'Nightmare' Mortgage: Problems From Origination Through Foreclosure

A look at one case that shows common indicators of fraud and the challenges of fighting it.

Banks Modifying Tiny Percentage of Mortgages in Need

Mortgage modifications, both proprietary and HAMP, are just as rare as they were before the government’s mortgage modification program launched 19 months ago.

New York State Foreclosure Mediation Shows Glimmers of Hope in Helping Homeowners

New York is requiring banks to sit down with homeowners before foreclosing. And it’s slowly starting to pay off.

At Hearing, Lawmakers Ask Experts for Foreclosure Crisis Solutions

A state attorney general, a legal services attorney and a law professor shared with lawmakers possible solutions for easing the foreclosure crisis.

Gov’t Has Spent Small Fraction of $50 Billion Pledged for Loan Mods

Data obtained by ProPublica show how much has been spent through the government’s mortgage modification program (HAMP). Our data show how much has gone to each mortgage servicer.

Despite Praise From Banks, Treasury, In-House Loan Mods Provide Less Help to Homeowners

Banks’ own modifications typically reduce monthly payments by half as much as those made in the government program, making homeowners twice as likely to fall behind again after a modification.

The Government's Incredible Shrinking Mortgage Mod Program

The U.S. government's effort to help struggling homeowners from defaulting on their mortgages is approaching a standstill, and the number of homeowners in ongoing mortgage modifications could start shrinking.

Amid Foreclosure Questions, Govt Loan Mod Program Continues Struggles

New numbers show the administration’s mortgage modification program continues to struggle, while government officials say the banks’ flawed foreclosure practices should draw even more attention to their poor record in the handling of homeowners seeking modifications.

Read: The Depositions That Sparked the Foreclosure Scandal

In depositions both old and new, employees at servicers, foreclosure-mill law firms, and other players describe how they processed foreclosures. Read it in their words.

Mortgage Investors Join Outcry Against Banks

The investors who own mortgages are starting to threaten legal action over the way banks and mortgage servicers operate, saying the servicers are looking out for themselves, not their clients.

Q&A: Putting the Foreclosure Paperwork Scandal in Perspective

Robo-signing’s just small component of a larger mess made by servicers, according to consumer advocates and attorneys for homeowners. One expert explains how the process should’ve looked.

Mod Program Falling Short of Govt’s Vague Goals

The government's mortgage modification is on pace to fall short of even the administration's vague goals, while details on why homeowners are being disqualified from the program raise questions.

Homeowner Tips for Getting Loan Modifications

Homeowners dealing with the load modification process offer some tips to make sure others can succeed. The most important: Get help, stay organized and don’t give up.

Loan Mod Profiles: For Some, a Modification

Permanent loan modifications can save homeowners from foreclosure, reducing their payments by an average of 36 percent. But for some, the help does not go far enough.

Loan Mod Profiles: In Trial Limbo

Extended trial periods delay answers and cause problems for homeowners looking for permanent reductions to their monthly mortgage payments.

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