Mortgage lenders including Merrill Lynch, Wells Fargo Bank, Countrywide Financial Corp., and five other have pledged $4.6 million to hire mortgage counselors to help homeowners facing foreclosure in the state. The San Francisco Foundation and the California Community Foundation have also made pledges towards the fund.

Slow Economic Growth in 2008 Will Be Coupled With Lower Levels of Mortgage Originations in 2008 and 2009.

Prosecutors in New York and Connecticut have opened a probe to see if the Wall Street banks have held back critical information on subprime loans and have failed to disclose sufficient data on mortgage lending practices.

Typically, subprime loans are for persons with blemished or limited credit histories. The loans carry a higher rate of interest than prime loans to compensate for increased credit risk.

The US economy will grow less than previously forecast as a rout in subprime borrowing hampers consumer spending.

Just about everyone takes pride in the home they bought - especially is this true when you know you have the best deal around. If you are looking to find a way to finance your new home, then there are a number of things you can do in order to save some serious money and reduce your monthly mortgage payments.

Nine out of 10 Americans agree that providing affordable housing in their communities is important. Fewer than half of all Americans, however, believe that the nation's current housing policy is on the right track to meet the nation's housing needs, according to a new poll released today by a coalition of public, private and nonprofit industry groups, including the National Association of Realtors.

The number of Canadians considering combination mortgages - those with both fixed and variable rate segments - is on the rise, according to RBC's 14th Annual Homebuyers Survey. Over one third (38 per cent) of Canadians who are likely to purchase a home within the next two years plan to take out a combination mortgage, compared to 30 per cent in 2006.