From Business Insider:
Mortgage expert and one-time Fannie Mae Chief Credit Officer Edward Pinto blasts the claim that 500,000 homeowners have entered into HAMP (Home Affordable Modification Program).
Based on comments being made by industry participants and program results to date, HAMP is rapidly becoming: I will pretend to modify your loan if you pretend that you [...]

I was reflecting on current mortgage lending where it’s not unusual for a borrower to have a large loan in first position and a smaller loan or HELOC in second position when arranging for the financing to purchase a home. That led me to think back to the days when second loans weren’t used, [...]

From the L.A. Times
If nothing else, filing for bankruptcy protection will buy you some breathing room, which is particularly important in “non-judicial” states where the clock on foreclosure starts as soon as your lender posts a notice that it intends to accelerate your note.
In “judicial” states like California, the process of repossessing a house [...]

Rising unemployment is complicating the Obama administration’s effort to reduce foreclosures and stabilize the housing market.
The first wave of mortgage delinquencies was sparked by borrowers who took out subprime mortgages and other risky loans that became unaffordable, causing them to fall behind on their monthly payments. But the current wave is increasingly driven by unemployment [...]