Most of the borrowers are at a loss how to tackle the impending problem but the housing counselors are there with unsheathed swords waging a war against foreclosures. They have first hand knowledge of the various federal government plans involving $75 billion. The plans are there but the borrowers need to be navigated and for [...]
Those who once proudly lived in their own homes with self-respect are now turning to seek refuge in cars, with friends, relations and in public shelters.
One of the victims is Sheri West. The first night she spent inside her sedan. It was parked in the driveway of her previous house piled with her goods. On [...]
Legislators are scrutinizing lending activities of the Federal Housing Agency. It made its debut during the time of the Great Depression to help the damaged real estate market get back on its feet with the assistance of the government coming forward to insure mortgages. But currently – the worst economic crisis since then is causing [...]
Many are not wallowing in depression and self-pity but taking up the challenge thrown by the foreclosure crisis and finding new avenues. Some say that it has actually been a boom that has pulled them out of the groove. Economic necessity has now become the mother of new invention.
Jay Kverno previously had a job oiling [...]
The real estate sector in the US is already in the dumps. As unemployment reigns high people falter on mortgage payments. Hence, foreclosures are at an all-time high. Now there is news of 7 million foreclosures of hitting the market. Once the banks take over these properties, housing prices is set to crash further. This [...]
It is ironical that modifications have increased the amount of monthly payments and thus causing borrowers to be pushed into the arms of foreclosure again. With great hope the homeowners (their numbers running into tens of thousands) across the country have been asking their lenders to modify their loans. But instead of getting relief they [...]
The situation is getting only worse what with people losing jobs faster than ever. This has triggered off a wave of foreclosures in various regions of the country. Now, another bad news is that in Bay Area people had taken a loan that is popularly known as Adjustable Rate Mortgage (ARM). In 2010, many of [...]
The impact of the present crisis is being felt by religious institutions and subsequently it will tell on the faith and practices of the next generation. However everything is not negative – suffering has brought people together.
Nearly 3,800 private schools are part of The Association for Christian Schools International. It notes that enrollment has decreased [...]
