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Unemployment Spike Adds to Foreclosure Crisis

Image: Unemployment Spike Adds to Foreclosure Crisis

The country's growing unemployment is overtaking subprime mortgages as the main driver of foreclosures, making the foreclosure crisis far more complicated to unwind.

As Homeowners Punt on Selling, They Face Challenge in Pleasing Choosier Renters

Image: As Homeowners Punt on Selling, They Face Challenge in Pleasing Choosier Renters

It's an unusually good time to be in search of a house rental in the Washington area. The supply is increasing as homeowners, not wishing to sell their homes, are offering them for lease.

Where We Live

'Water Is Not the Only Draw Here'

Image: 'Water Is Not the Only Draw Here'

It's the "ahhhh" factor that draws people to Harbor View and keeps them there. The waterside setting, pristine views and deep lots enhance this southern Fairfax County neighborhood.

The Economics of Taking a Dip

Image: The Economics of Taking a Dip

With home equity lost to a burst housing bubble and homeowners strapped for cash, backyard swimming pools aren't making quite the splash they were three or four years ago.

Blog: Local Address

Wells Fargo Being Sued Over Home Equity Loans

I can't muster much excitement over the news, reported by the Associated Press, that a customer of Wells Fargo has filed suit in an Illinois court against the lender, claiming it improperly reduced his home equity line of credit. The borrower, Illinois resident Michael Hickman, and his lawyers are trying to get class-action status for the suit. They say Wells Fargo inappropriately reduced credit lines using a faulty computer model and improperly notified borrowers of the change. Wells Fargo responded with a statement defending its lending models. Even if Hickman and his lawyers succeed with a class-action suit, borrowers who join such a suit would probably walk away with a pittance in compensation. By the time lawyers' fees and expenses are subtracted from most class-action settlements and the remainder is divided among all the members of the class, the settlement pie has been minced to crumbs. Regardless of the merits

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