President-elect Barack Obama and his teammates are chalking out a strategy to tackle the foreclosure crisis. The group is aiming to widen the use of the $700 billion bailout package by thawing credit availability for house owners, modest business concerns and the harangued local governments – all suffering from the foreclosure fallout.
The funds [...]
Today, especially in Central Florida, the foreclosure crisis is the hottest but least understood topic. Even many in the mortgage industry are floundering and unable to grasp the root of the matter.
In an effort to address this problem and bring all the concerned parties under one umbrella, Phil Peachy, a real estate agent, is [...]
On Saturday 3rd January President-elect Obama pressed on the leaders of the Congress the urgency to initiate a recovery plan. Republicans are humming and hawing wanting more time to mull over the details.
Obama opined that an American Recovery and Reinvestment Plan should be passed so as to create about 3 million jobs. He has [...]
Federal Reserve Chairman Ben Bernanke predicted foreclosures this year will reach about 2.25 million and Barack Obama proposes to place 3 months moratoria on foreclosures for home owners. Get inside into the concerns of the new government about foreclosures market.
The securitized mortgage loans are at the root of the foreclosure crisis. It is this that continues to prevent a hurdle to any kind of solution.
Cynthia Goldrick took a mortgage on her house, 90 miles from New York City, for $375,000 in 2005. Within two years the interest shot up from 6.5% to [...]
Ben Bernanke of the Federal Reserve took many steps to battle the foreclosure crisis. The question that arises is that were these steps too much or too little?
The sub-prime mortgage crisis that led to the foreclosure tsunami engulfed the lenders with fear. They stopped lending and thus endangered the economy. Starting from August 2007 [...]
The bursting of the housing bubble was closely followed by the foreclosure crisis. Most of the sub-prime borrowers had hoped that when their mortgage rates would go up they would be able to refinance into a traditional mortgage with reduced payment commitments. But when the value of property fell they could not do so because [...]
Every action has a reaction. Nothing comes out of nothing – there must have been an action or series of actions behind it. Without finding the cause no solution can be found – hence the importance of introspecting on the foreclosure crisis.
Multiple causes contributed to the foreclosure crisis. Many – from pundits to the ordinary [...]
