Foreclosures have transformed Lake Las Vegas resort from a symbol of prosperity into an emblem of recession. Beyond the suburban spread there lay an artificial lake in the desert flanked by a village with an Italian touch – representing everything that taste and money could buy. But the overflowing milk of prosperity has suddenly curdled.
In [...]
Michigan is struggling caught between the double pincers of unemployment and foreclosures. It has the highest unemployment rate from 2006. The predictions are that in June it will spike to 15.2% and keep on going up before finally taking an about turn. The state has never quite recovered after the 2001 recession.
The collapse of the [...]
Two noted Gold Coast development sites under Mark Hunt of Chicago are being sued for unpaid loans amounting to $50 million. Foreclosure is imminent. One of the sites is the shut down Esquire Theatre. Two suits have been filed.
Anglo Irish Bank Corporation is targeting collection of $33.2 million for the Esquire area that covers half [...]
The US is going through one of its most challenging phases. Unemployment is at its peak and people are faltering on mortgage payments. Subsequently banks are taking over the properties and foreclosures have become common. According to Equity Depot report, foreclosures in Atlanta will increase. About 116,905 will come up for foreclosure by 2009, which [...]
Although the state legislators are trying to help harangued homeowners from being evicted during these recession days, Connecticut State has just passed a budget ( for 2 years) that will cash gain from a new tax imposed on foreclosures to help the government to get out of the money shortage. It is unclear as to [...]
While foreclosures are increasing so too is a demand for home loans. The mortgage rates have touched a record low and this has led to the demand for mortgage loans. On the other hand foreclosures are surging.
The Treasury reported that only 12% of those borrowers eligible for loan modification as per the Obama government’s rescue [...]
This is one of the most challenging phases in the US. Foreclosures are at an all time high. The worst affected states are California, Nevada and Florida. In California, the foreclosure level has dropped by 32 per cent yet the state is the third highest in the nation’s foreclosure measure. In August the number of [...]
The US economy is in the grip of a deep Recession. Joblessness is rampant and subsequently people are unable to make mortgage payments. Hence, foreclosures have become common in various regions of the US. However, the scenario is different in a region called the Valley, where foreclosures have dropped. Foreclosures plunged to 3,939 in August, [...]
