There are indications that home sales are picking up together with prices but the foreclosure numbers continue to march apace. Rick Sharga of RealtyTrac that tracks foreclosures was interviewed by Barbara Kiviat of Times regarding the future of residential foreclosures.
Taking an analogy from baseball Sharga opined that right now the foreclosure situation in the country [...]
The auction of foreclosed units appeared to present an even grimmer scenario than initially noted. In Wayne County 9,000 REOs were put up for auction recently. 80% of these failed to attract any bidder although the minimum bid was allowed to be $500.
It is nothing new that Detroit and Cleveland are cursed for some time [...]
Foreclosures are not just cold impersonal figures and charts but something personal and real – the stuff that go to make novels.
One such couple in California in the past few months had lost everything – motorcar, boat, house, their cell phones and even their dogs. Their teenage sons were too traumatized to talk about it. [...]
The housing advocates and homeowners battling foreclosure crowded before the State House recently to show their support for many bills that are aimed at slowing the pace of foreclosures and ensuring more equitable treatment towards the house owners and the tenants
There was a strong crowd at the hearing before the Joint Committee comprising of law [...]
Despite incentives offered to servicers regarding modification, foreclosures that could have been avoided continue. According to recent reports the banks are not extending relief to the harassed borrowers.
According to National Consumer Law Center of NCLC, servicers of the mortgages comprising of many big banks, are opting for foreclosures because it is more profitable than going [...]
There are no signs of the foreclosure problem fading. Across the country about 940,000 houses are in some stage of foreclosure during the third quarter of 2009. Either it is a default or auction notification or the house is taken over by the lender. In New York State the filings shot up by 11% in [...]
When the foreclosure crisis made its debut experts in personal finance put pressure on the homeowners to open communications with their lender if they defaulted. The house owners were made to believe that the lenders would do their best to skirt foreclosure. But now the experts are not sure and singing a different tune.
The borrowers [...]
Last Thursday, 16th October, Goldman announced that it would pay out $200 million to its charitable unit. The amount calculates to 6% of its profits during the third quarter or equivalent to its earnings for 6 days. Goldman now has the unusual task of explaining to the rest of the country sucked dry by the [...]
