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By Les Christie @CNNMoney “The clock is ticking on a tax break that saves struggling homeowners from paying thousands of dollars to the IRS. If the Mortgage Forgiveness Debt Relief Act of 2007 does not get extended by Congress by the end of the year, homeowners will have to start paying income taxes on the portion ofRead more

Florida’s attorney general and top legislators reached a deal Friday over how to spend $300 million in foreclosure settlement cash, ending a months-long stalemate. BY TOLUSE OLORUNNIPA HERALD/TIMES TALLAHASSEE BUREAU “Florida Attorney General Pam Bondi announced Friday she has reached a deal with the state lawmakers over how to use $300 million in foreclosure settlementRead more

Reuters | “Applications for U.S. home mortgages fell last week as Superstorm Sandy battered the East Coast and disrupted normal business activity for millions of people, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity fell 5 percent in the week ended Nov. 2. TheRead more

By CHRISTINA REXRODE | The Associated Press | “The latest federal lawsuit over alleged mortgage fraud paints an unflattering picture of a doomed lender: Executives at Countrywide Financial urged workers to churn out loans, accepted fudged applications and tried to hide ballooning defaults. The suit, filed Wednesday by the top federal prosecutor in Manhattan, also underscored how BankRead more

By: Diana Olick CNBC Real Estate Reporter |   “Who can forget the heady days of the housing boom when property flippers would follow condo developers around like hungry wolves, waiting to pounce on new projects before one grain of earth had moved? Property auctions for single family homes weren’t any different, as novice buyers wereRead more