negative equity

As Congress jousts over the effectiveness of the stimulus package to stir economic activity, it’s worth noting that homeowners — whose troubles are at the root of the economic crisis — continue to struggle. Nearly one-fourth (23 percent) of mortgage-paying homeowners nationwide now owe more on their homes than the property is worth, according to [...]

There’s more proof out today that the foreclosure crisis is only getting worse, despite everything that’s been thrown at it so far: Foreclosure notices reached a new record high during the first half of this year,  Bloomberg reports.
Citing data from RealtyTrac, an online foreclosure database, Bloomberg said the rising number of notices shows how job [...]

The New York Times takes a swipe at the Obama administration today, in a sobering editorial warning that more needs to be done to address the alarming number of Americans continuing to lose their homes to foreclosure.
The editorial notes a reality that is coming increasingly into focus: Loan modification programs that reduce monthly payments may [...]

Kathleen Keest over at Credit Slips gives the most concise explanation yet of why a worrisome percentage of car owners are underwater on their auto loans – and how that big problem affecting the economy is being overlooked.
Lots of people think that when they trade in their old car to buy a new one, that [...]