According to real estate data company Altos Research, housing prices will drop nationally another 5 to 10 % in 2011 before hitting a bottom. Two supply trends will drive prices lower: rising inventory and the lower quality of the inventory. Read more
Wells Fargo Home Mortgage has agreed to a settlement with the California Attorney General’s office that would pay restitution to more that 12,000 borrowers who lost their homes to foreclosure. The loans that were provided to these borrowers were adjustable rate mortgages with low “teaser rates” that would allow them to qualify for the loan, … More Wells Fargo signs “pick a pay” settlement for 2 billion.