Finance & Mortgage

Dubai Land Department to Auction Foreclosed Properties

Up to 80 properties in Dubai are set to be sold by the Dubai Land Department (DLD) this year as banks move to take action to recoup losses from home owners in mortgage default.

More Americans Win Mortgage Loan Modifications

The U.S. Treasury Department said on Friday that the number of active permanent mortgage loan modifications agreed to by banks rose 13,836 during February to 782,609 by the end of the month.

Fed Rules on Turning Foreclosures into Rentals

The Federal Reserve took steps to encourage banks to turn more of their foreclosed homes into rental properties in new policy guidelines issued on Thursday that could help lessen the flood of distressed property sales that is depressing prices.
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