Inside these posts: Foreclosure

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Obama rejects bill that could ease foreclosure

President Barack Obama will not sign legislation that could have made it more difficult for homeowners to challenge unjustified foreclosure actions, the White House said on Thursday.

White House communications director Dan Pfeiffer said Obama was sending the bill back to the House of Representatives for further discussion of how it would affect the foreclosure crisis, which has become a political lightning rod amid media reports that banks acted improperly to evict struggling borrowers. Get the full story »

Home loan delinquencies rise in May

Home loan delinquencies, excluding those loans already in foreclosure, rose 2.3 percent in May, to 9.2 percent nationally, according to a mortgage monitor report released Tuesday by Lender Processing Services Inc.

Meanwhile, the foreclosure inventory remained relatively stable compared with April, at 3.18 percent of all mortgage loans outstanding, the company reported.

Illinois is among the 10 states with the most loans in foreclosure or delinquency, with a rate of 13.6 percent of active loans. Nationwide, the rate is 12.38 percent.