Obama

via: cnn.com NEW YORK (CNNMoney) — Borrowers with some federally insured mortgages will be able to refinance into lower interest rate loans more easily and cheaply under a plan being unveiled Tuesday by the Obama administration. At a news conference scheduled later in the day, President Obama was set to announce that the Federal Housing […]

The foreclosure crisis has hit blacks harder than any other group in America and it will be tough for them to regain their footing in the housing market. Blacks’ homeownership rate has plummeted nearly 6 percent to 46.2 percent since its peak in 2004. That’s more than twice that of any other racial or ethnic […]

(CNN)  The mortgage meltdown is hitting the African-American and Latino communities harder than whites, a new study has found. Of borrowers who took out mortgages between 2005 and 2008, some 8% of both African-American and Latino borrowers have lost their homes to foreclosure, compared to 4.5% of non-Hispanic whites, according to a study by the […]

Via Huffington Post: When two struggling families appeared as guests on The Oprah Winfrey Show to talk about the home foreclosures they were facing, they had no idea a surprise guest would make their problems disappear. The Eller family and the Allgood family shared their stories with Oprah and explained how the national recession took […]