The state of Illinois is suing Countrywide for unfair and deceptive business practices, claiming the lender designed mortgage products with Wall Street in mind. Steve Henn reports other accusations against the company.
U.S. mayors are working to resolve the housing crisis by using federal money. Rampant foreclosures are especially hurting cities by choking off property tax revenues that fund city services. Jill Barshay reports.
A large portion of federally-subsidized rental units will be in jeopardy in the next five years once Section 8 housing contracts expire. Sarah Gardner reports the average post-Section 8 rent hike is between 20% and 40%.