A new report says fewer homeowners in the St. Louis area are struggling to keep up with their mortgages.
The St. Louis Post Dispatch, citing figures released Tuesday from real estate data company CoreLogic, reports that about 11 percent of St. Louis homeowners with mortgages owed more than their home was worth. That number is down from 16 percent in June 2012.
U.S. households owe a bit less than they did at the peak of the bubble. But they still owe a lot: $11.4 trillion, give or take a few billion. Mortgage and home-equity debt is still by far the biggest chunk of that debt. Total U.S.
Originally published on Fri August 10, 2012 9:45 am
Saying it wants "to protect homeowners from surprises and costly mistakes by their mortgage servicers," the Consumer Financial Protection Bureau today proposed new rules it believes would make the home loan process simpler and give struggling homeowners more of a chance to avoid foreclosures.