Reuters Money

AARP sues Wells Fargo, Fannie Mae over reverse mortgage foreclosure

August 5, 2011

Aida Lemus, 70, cries as she is evicted from her foreclosed condominium in Anaheim, California, June 23, 2009.  REUTERS/Lucy Nicholson AARP’s legal battle against wrongful reverse mortgage foreclosures has shifted from government regulators to lenders.

Trading up in a down housing market

August 4, 2011

There’s no getting around it: In much of the country, this is a terrible time to unload your home.

Luxury real estate: How to snag a deal on a foreclosure or short sale

July 5, 2011

Opportunities to buy foreclosed — or soon-to-be foreclosed — luxury homes are on the rise. But watch out for the pitfalls that could sour what seems like a sweet deal.

Wells Fargo exit underscores trouble in reverse mortgage industry

June 22, 2011

The country’s largest reverse mortgage lender is exiting the business, saying the loans have become too risky in the current climate of falling home values.

Homeowners, don’t be fooled by this foreclosure scam

March 25, 2011

Marc Charney, president of CharneyRealEstate.com, hangs a sign reading 'Foreclosure For Sale' on a house in the Boston suburb of Dedham, Massachusetts March 15, 2007. REUTERS/Brian SnyderLooming foreclosure can be one of the scariest times for any family down on its luck. So, it stands to reason that crooks would design scams to target that vulnerability and try to squeeze whatever money these people who can’t pay their bills can scrape up.

AARP lawsuit: Reverse mortgages cause foreclosures

March 11, 2011

Realtor Mac McCollum stands in front of a foreclosed home in Bullhead City, Arizona, November 4, 2009.  REUTERS/Lucy NicholsonReverse mortgage ads often portray contented silver-haired couples enjoying the comfort of home, confident that their decision to tap home equity will bring lifelong financial security.

Home market isn’t on rebound yet

March 11, 2011

A vacant house for sale is pictured at the Green Valley Ranch neighborhood in Denver, Colorado July 26, 2007.  REUTERS/Rick Wilking Are we there yet? Is the U.S. home market on the upswing?

As Alan Greenspan would say, “there are shoots,” although a true spring in housing is still hampered by a chilly economic climate throughout most of the country.

Real estate: First-time homebuyer basics

February 18, 2011

Dennis Lee and his wife Dana are pictured in this undated handout photo. REUTERS/HandoutDennis Lee, 26, is a model first-time homebuyer. Recently married, he and his wife, Dana, have financially secure jobs as a youth minister and accountant, respectively. They have good credit scores, and have been studying property price graphs and charts in their local San Francisco Bay Area for months.

First-time buyers forgo starter homes: survey

February 10, 2011

Prospective buyers visit an open house for sale in Alexandria, Virginia April 6, 2008.   REUTERS/Jonathan Ernst  Looking to cash-in on rock-bottom home prices, first-time buyers are thumbing their noses at traditional “starter homes,” setting their sights on move-in-ready real estate, according to a new survey from Coldwell Banker Real Estate.

A solution to the mortgage mess?

January 26, 2011

Police tape marked as a Foreclosure Free Zone is seen outside the foreclosed home of Marie Elie in Elmont, New York, April 9, 2009.  REUTERS/Shannon Stapleton  If you thought the U.S. foreclosure crisis was ebbing, think again. Every passing week brings with it new tales of mortgage loan defaults, and allegations of foreclosure malfeasance on the part of some banks.