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	<title>Foreclosure Listings Articles</title>
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	<pubDate>Fri, 25 Jul 2008 12:10:47 +0000</pubDate>
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		<title>Foreclosure Crisis Reminding Texans Of The Eighties Collapse</title>
		<link>http://www.foreclosurelistings.com/blog/foreclosures/foreclosure-crisis-reminding-texans-of-the-eighties-collapse.htm</link>
		<comments>http://www.foreclosurelistings.com/blog/foreclosures/foreclosure-crisis-reminding-texans-of-the-eighties-collapse.htm#comments</comments>
		<pubDate>Fri, 25 Jul 2008 12:10:47 +0000</pubDate>
		<dc:creator>Nehathegreat</dc:creator>
		
		<category><![CDATA[Foreclosures]]></category>

		<category><![CDATA[texas]]></category>

		<guid isPermaLink="false">http://www.foreclosurelistings.com/blog/?p=1285</guid>
		<description><![CDATA[The present foreclosure crisis is reminding Texans of the bank collapse of the eighties. Sure investments have again vanished into thin air. Banks having overfed on forceful lending is now tottering on the brink. Only Time alone can give the true picture of the present day economy of USA. 
It is apprehended by experts that [...]]]></description>
			<content:encoded><![CDATA[<p>The present <a href="http://www.foreclosurelistings.com"><strong>foreclosure</strong></a> crisis is reminding Texans of the bank collapse of the eighties. Sure investments have again vanished into thin air. Banks having overfed on forceful lending is now tottering on the brink. Only Time alone can give the true picture of the present day economy of USA. </p>
<p>It is apprehended by experts that in the forthcoming years about 300 banks will fail. It is an eerie reminder of the picture in Texas during the eighties when a <a href="http://www.foreclosurelistings.com/real_estate.php"><strong>real estate</strong></a> crisis busted hundreds of banks – long time thought to be the pillars of economy. However many analysts are hopeful that this time it will not get that bad because <strong>Texas</strong> is not the epicenter of the foreclosure crisis currently raging.</p>
<p>From 1980 to 1994 over 1,600 banks failed in USA dragging down assets worth $2 billion according to figures of Federal Deposit Insurance Corporation. Even larger than this was the savings and <strong>loan</strong> debacle during the same time that gobbled up 1,000 institutions having assets over $500 billion. The cleaning up of the savings and loan mess required $150 billion. All came out of the pockets of the taxpayers.  Dick Evans of Cullen/Frost Bankers Inc. recalls that his bank was one of the top ten that survived. But it was tough going. </p>
<p>Today the investment experts say that despite the ongoing foreclosure crisis the banks are relatively in a better position than during the eighties. The economy in Texas is out performing that of the country as a whole. Twenty years ago a foreclosure tide swept away jobs and houses in thousands right through the state. </p>
<p>Gerard Cassidy was young and gullible during the eighties and believed everything that the banks said. At that time he was with an insurance company. His work led him to deal with many banks in Texas. He saw for himself how everything and everyone went down with the ship. Today he is a bank analyst and a much wiser man as he surveys the ongoing foreclosure crisis with experienced eyes. He can measure ahead the symptoms of bank failure. He calls this the Texas-Ratio. His calculations led him to predict the oncoming failure of IndyMac and it turned out to be true. It busted this month as one of the largest bank collapses in the history of the country. </p>
<p>Mr. Cassidy predicts more worries ahead but nevertheless this foreclosure crisis is not quite so bad as the early nineties.</p>
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		<title>Foreclosure Rescue Bill Poised To Take Off</title>
		<link>http://www.foreclosurelistings.com/blog/foreclosure/foreclosure-rescue-bill-poised-to-take-off.htm</link>
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		<pubDate>Thu, 24 Jul 2008 11:58:55 +0000</pubDate>
		<dc:creator>Nehathegreat</dc:creator>
		
		<category><![CDATA[Foreclosure]]></category>

		<category><![CDATA[arizona]]></category>

		<category><![CDATA[Foreclosures]]></category>

		<category><![CDATA[michigan]]></category>

		<guid isPermaLink="false">http://www.foreclosurelistings.com/blog/?p=1281</guid>
		<description><![CDATA[The foreclosure rescue bill is poised to take off. By it both borrowers facing foreclosures and banks riddled with foreclosure related losses would benefit. Both the parties are supporting the bill for the general welfare. If all goes well than the bill will sail through the Senate on Friday 25th July. There are bumps ahead [...]]]></description>
			<content:encoded><![CDATA[<p>The <a href="http://www.foreclosurelistings.com/foreclosure.php"><strong>foreclosure</strong></a> rescue bill is poised to take off. By it both borrowers <a href="http://www.foreclosurelistings.com/facing_foreclosures.php"><strong>facing foreclosures</strong></a> and banks riddled with <strong>foreclosure</strong> related losses would benefit. Both the parties are supporting the bill for the general welfare. If all goes well than the bill will sail through the Senate on Friday 25th July. There are bumps ahead with some alterations required. The White House has been threatening to veto if certain major changes are not rewritten. But it seems that the preliminary hurdles have been crossed and the package is running on the proper tracks. The Senate has broadly supported it. This shows the general interest of the lawmakers belonging to both parties. Uppermost on their minds has been the welfare of the <strong>foreclosure</strong> victims. It must not be overlooked however that this is the election year and the economic weather right across the country is grim. </p>
<p>The main point of the bill will allow the Federal Housing Administration to support up to $300 billion of new <a href="http://www.foreclosurelistings.com/loans.php"><strong>loans</strong></a> that will be made to borrowers at risk from <a href="http://www.foreclosurelistings.com/foreclosures.php"><strong>foreclosures</strong></a>. The new <strong>loans</strong> will have easier more affordable terms. The rate will be fixed for longer period. The <a href="http://www.foreclosurelistings.com/lenders.php"><strong>lenders</strong></a> on their part will have to waive large chunks of the principal and thus avoid costly <strong>foreclosures</strong>.</p>
<p>Barney Frank (Democrat) chairperson of Financial Services Committee is one of the main architects of the bills. He commented that a number of leaders of the House are seeking some important revisions. These differences will be ironed out within the week. The week will be one of intense parleying at Capitol Hill against the background of Bush agreeing to sign the bill or not.</p>
<p>The FHA will be modernized and given a shake up. This has been a long-standing demand. A new regulator will be set up and there will be more strict control on Fannie Mae and Freddie Mac. The latter two are government-sponsored giants. The bill will also sanction $14.5 billion in relief from housing taxes. New buyers who would be purchasing properties for the first time will be getting a credit for $8,000. </p>
<p>The Democrats in the Congress are disunited over some important points of the package relating to limits on <strong>loans</strong> to be supported by FHA, amongst other things. Difference of opinion surrounds Freddie Mac and Fannie Mae also. The Senate wants to limit them to $625,000 but some, including the Speaker Nancy Pelosi want to cap it at $730,000.<br />
<a href="http://www.gopusa.com/news/2008/july/0711_mortgage_bill.shtml">via</a></p>
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		<title>Sub-Prime No Longer The Main Reason For Foreclosures</title>
		<link>http://www.foreclosurelistings.com/blog/foreclosure-homes/sub-prime-no-longer-the-main-reason-for-foreclosures.htm</link>
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		<pubDate>Wed, 23 Jul 2008 12:12:38 +0000</pubDate>
		<dc:creator>Nehathegreat</dc:creator>
		
		<category><![CDATA[Foreclosure Homes]]></category>

		<category><![CDATA[california]]></category>

		<guid isPermaLink="false">http://www.foreclosurelistings.com/blog/?p=1277</guid>
		<description><![CDATA[Sub-primes are no longer the main reasons for foreclosures. Today the main culprit is the rapid decline in real estate prices. 
The foreclosure epidemic of North County is rapidly spreading not because of sub-prime so much as because of many other factors that have led to a fall in the real estate market.
Oceanside and east [...]]]></description>
			<content:encoded><![CDATA[<p>Sub-primes are no longer the main reasons for <a href="http://www.foreclosurelistings.com/foreclosures.php"><strong>foreclosures</strong></a>. Today the main culprit is the rapid decline in <a href="http://www.foreclosurelistings.com/real_estate.php"><strong>real estate</strong></a> prices. </p>
<p>The <a href="http://www.foreclosurelistings.com/foreclosure.php"><strong>foreclosure</strong></a> epidemic of <strong>North County</strong> is rapidly spreading not because of sub-prime so much as because of many other factors that have led to a fall in the <a href="http://www.foreclosurelistings.com/real_estate_market.php"><strong>real estate market</strong></a>.</p>
<p>Oceanside and east Escondido were two of the worst affected regions. During the past three months the numbers have gone down. But foreclosures have marched into the adjacent areas of <strong><a href="http://www.foreclosurelistings.com/lview.php?state_sg=CA&#038;county_name=SAN DIEGO&#038;city=SAN MARCOS">San Marcos</a></strong> and <strong><a href="http://www.foreclosurelistings.com/lview.php?state_sg=CA&#038;county_name=SAN DIEGO&#038;city=CARLSBAD">Carlsbad</a></strong> where the numbers are growing. Experts say that today the problem is not so much the risk factor as the decline in property prices that is triggering off foreclosures. It has become a vicious circle – price decline is leading to more foreclosures and more foreclosures are leading to further price decline. Sean O’Toole of ForeclosureRadar that tracks foreclosures commented’ “It’s like a toilet bowl effect.” </p>
<p>According to the findings of a study conducted by the <strong>Boston</strong> Federal Reserve, house owners who lost over 20% of the value of their houses are 14 times more susceptible to be cursed by foreclosure, than a typical borrower. In sharp contract sub-prime borrowers are six times more likely to succumb to foreclosures than prime borrowers.</p>
<p>According to ForeclosureRadar north Oceanside saw a drop in foreclosures during the last three months, but San Marcos foreclosures increased by 28% during the same three months. The problem is also growing in <a href="http://www.foreclosurelistings.com/lview.php?state_sg=CA&#038;county_name=SAN DIEGO&#038;city=CHULA VISTA"><strong>Vista</strong></a> and Carlsbad affecting the higher priced houses.  </p>
<p>Ward Hanigan of Innovest, an investment firm of San Diego opines that this trend will continue till 2010. His company is biding its time for the foreclosure weather to change. The signal will be when banks will be selling properties in a wholesale manner with two or three being sold at one go. As yet that liquidation mind set has not begun, he commented. </p>
<p>New default numbers are declining. The default notice is the first step in the judicial process of foreclosure. In North County foreclosure proceedings have been finalized on 30% of the <a href="http://www.foreclosurelistings.com/foreclosed.php"><strong>foreclosed</strong></a> units. Bank owned properties make up above 40% of the foreclosed units. It indicates that sub-prime <a href="http://www.foreclosurelistings.com/lenders.php"><strong>lenders</strong></a> have been successfully been able to work out many <a href="http://www.foreclosurelistings.com/loans.php"><strong>loans</strong></a> satisfactorily without going into foreclosure. Another pointer to the domination of price being the main factor in foreclosures is the negative equity of the properties in question.</p>
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<li><a title="San Francisco Foreclosure Listings" href="http://www.foreclosurelistings.com/lview.php?state_sg=CA&#038;county_name=SAN FRANCISCO&#038;city=SAN FRANCISCO">San Francisco Foreclosure Listings</a></li>
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<p><a href="http://www.nctimes.com/articles/2008/07/21//business//z8f3853d82938575688257489005f5515.txt">via</a></p>
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		<title>Gillette Stadium Hosting Foreclosure Prevention Workshop At Boston</title>
		<link>http://www.foreclosurelistings.com/blog/foreclosure/gillette-stadium-hosting-foreclosure-prevention-workshop-at-boston.htm</link>
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		<pubDate>Wed, 23 Jul 2008 12:07:07 +0000</pubDate>
		<dc:creator>Nehathegreat</dc:creator>
		
		<category><![CDATA[Foreclosure]]></category>

		<category><![CDATA[boston]]></category>

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		<guid isPermaLink="false">http://www.foreclosurelistings.com/blog/?p=1275</guid>
		<description><![CDATA[The Federal Bank of Boston and The New England Patriots Charitable Foundation will be hosting a foreclosure prevention workshop at Gillette Stadium. No fees will be charged. It will be held on Tuesday 12th August. Starting from 1 pm it will continue till 8 pm. The workshop will be a great opportunity for foreclosure victims [...]]]></description>
			<content:encoded><![CDATA[<p>The Federal Bank of <strong><a href="http://www.foreclosurelistings.com/lview.php?state_sg=MA&#038;county_name=SUFFOLK&#038;city=BOSTON">Boston</a></strong> and The New England Patriots Charitable Foundation will be hosting a <a href="http://www.foreclosurelistings.com"><strong>foreclosure</strong></a> prevention workshop at Gillette Stadium. No fees will be charged. It will be held on Tuesday 12th August. Starting from 1 pm it will continue till 8 pm. The workshop will be a great opportunity for foreclosure victims to directly meet their <a href="http://www.foreclosurelistings.com/lenders.php"><strong>lenders</strong></a> to avoid foreclosure evictions. </p>
<p>The chairperson and CEO of The Kraft Group, Robert Kraft said that many events are hosted in Gillette Stadium but this one is “especially meaningful.” The foreclosure situation in New England is grim.There is hope that this event will help the issues to be resolved. The Kraft Group expressed its satisfaction at being able to “provide Gillette Stadium as the venue.”</p>
<p>It is an acknowledged fact that solving the foreclosure problem is not easy either for borrowers or for lenders said the president and CEO of the Federal Bank of Boston, Eric Rosengren. Gillette Stadium with its welcoming atmosphere and international standard facilities is the ideal place for holding such a crucial workshop. It will create the right ambience for talks of such weight. He was optimistic that this happening “held in this setting, can make a difference.”</p>
<p>Behind the workshop is the support of New England’s elected officials. Some of them are Governor Deval Patrick, Mayor Thomas M. Menino and U.S. Rep. Barney Frank amongst others. Governor Patrick commented that this was a great opportunity for lenders and borrowers to meet in a mood of faith and trust to work hard at finding a solution forthe raging foreclosure problem. </p>
<p>Mayor Menino added that in Boston they were continuing to make efforts to give as much real assistance as feasible to those who were at risk from <a href="http://www.foreclosurelistings.com/foreclosures.php"><strong>foreclosures</strong></a>. Simultaneously they were working for recovering the health of the localities that had been blighted by empty <a href="http://www.foreclosurelistings.com/foreclosed.php"><strong>foreclosed</strong></a> houses.</p>
<p>The borrowers were asked to be prepared and bring all their documents as regards income, expenses and <a href="http://www.foreclosurelistings.com/loans.php"><strong>loans</strong></a> together with <a href="http://www.foreclosurelistings.com/mortgage.php"><strong>mortgage</strong></a> papers to the workshop for the talks. These would come of use while discussing with a housing and or credit counselor. A special number has been set up for the convenience of the participants. Borrowers could call and leave behind their particulars like name and address as well as any relevant question after giving a callback number. They could expect a return call within 24 hours. </p>
<h2>Search Foreclosure Listings</h2>
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<li><a title="Detroit Foreclosure Listings" href="http://www.foreclosurelistings.com/lview.php?state_sg=MI&#038;county_name=WAYNE&#038;city=DETROIT">Detroit Foreclosure Listings</a></li>
<li><a title="Eastepoint Foreclosure Listings" href="http://www.foreclosurelistings.com/lview.php?state_sg=MI&#038;county_name=MACOMB&#038;city=EASTPOINTE">Eastepoint Foreclosure Listings</a></li>
<li><a title="Hamtramck Foreclosure Listings" href="http://www.foreclosurelistings.com/lview.php?state_sg=MI&#038;county_name=WAYNE&#038;city=HAMTRAMCK">Hamtramck Foreclosure Listings</a></li>
<li><a title="Jackson Foreclosure Listings" href="http://www.foreclosurelistings.com/lview.php?state_sg=MI&#038;county_name=JACKSON&#038;city=JACKSON">Jackson Foreclosure Listings</a></li>
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		<title>Foreclosures In Ohio Silently Victimizing Tenants</title>
		<link>http://www.foreclosurelistings.com/blog/foreclosures/foreclosures-in-ohio-silently-victimizing-tenants.htm</link>
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		<pubDate>Tue, 22 Jul 2008 12:59:38 +0000</pubDate>
		<dc:creator>Nehathegreat</dc:creator>
		
		<category><![CDATA[Foreclosures]]></category>

		<category><![CDATA[ohio]]></category>

		<guid isPermaLink="false">http://www.foreclosurelistings.com/blog/?p=1273</guid>
		<description><![CDATA[Reports coming in from Ohio show that the tenants are the silent victims of the foreclosure crisis. Their voices remain unheard. The income of the ordinary people is also going down because of the foreclosure tornado.
With more and more people being evicted from their houses the demand for rented accommodation has gone up. A recent [...]]]></description>
			<content:encoded><![CDATA[<p>Reports coming in from <strong><a href="http://www.foreclosurelistings.com/listings.php?state_sg=OH">Ohio</a></strong> show that the tenants are the silent victims of the <a href="http://www.foreclosurelistings.com"><strong>foreclosure</strong></a> crisis. Their voices remain unheard. The income of the ordinary people is also going down because of the foreclosure tornado.</p>
<p>With more and more people being evicted from their houses the demand for rented accommodation has gone up. A recent survey shows that tenants now occupy 30% of all the residential properties. Another reading shows that the income of Ohioans is going down. Tenants have few legal rights and are at the mercy of unscrupulous landlords as well as scammers. </p>
<p>In <strong><a href="http://www.foreclosurelistings.com/lview.php?state_sg=OH&#038;county_name=CUYAHOGA">Cuyahoga County foreclosure</a></strong> filings are rising according to the findings of Policy Matters Ohio. The study is mainly concentrated in Cuyahoga County.  It is a non-profit body without any party affiliations delving in economic research. Residential <a href="http://www.foreclosurelistings.com/foreclosures.php"><strong>foreclosures</strong></a> increased by 8% from 2007. The number of <a href="http://www.foreclosurelistings.com/foreclosed.php"><strong>foreclosed</strong></a> houses occupied by tenants also increased but at a higher rate than the previous category. Renters occupied 30% of the residential properties that were posted in 2007.</p>
<p>Tenants comprise of over a third of the population of Cuyahoga County. They suffer the same trauma as the owners occupying houses but with less focus and fewer avenues of redress or escape. They are not considered to be part of the <a href="http://www.foreclosurelistings.com/foreclosure_process.php"><strong>foreclosure process</strong></a>.</p>
<p>Most of the families are hardly given any decent time before being asked to vacate. To shift suddenly they have to incur significant expenses. It dramatically changes their lifestyle. They usually lose their security deposits and have to pay higher rents for the next shelter and suffer the attendant costs of shifting and storage. For the average family it calculates to $2,500. A rough estimate is that tenants have suffered in all, losses amounting to $10 million.  </p>
<p>Over 35% of the foreclosure postings of <strong><a href="http://www.foreclosurelistings.com/lview.php?state_sg=OH&#038;county_name=CUYAHOGA&#038;city=CLEVELAND">Cleveland</a></strong> counting to 2,586 and East Cleveland counting to 175 are related to rented houses. Most of the houses in the inner-ring suburbs suffered considerable rise in tenanted foreclosure listings. Report from Cleveland Housing Court show that number of houses being foreclosed having tenants have doubled.</p>
<p>The report suggests enacting of laws for the protection of renters at the state and federal level. Proper and timely notice should be made compulsory. <a href="http://www.foreclosurelistings.com/loans.php"><strong>Loans</strong></a> (with no or negligible interest) should be made available for renters to be able to shift and set up home again. The banks should focus on incentives rather than evictions.</p>
<h2>Search Foreclosure Listings</h2>
<ul>
<li><a title="Ohio Foreclosure Listings" href="http://www.foreclosurelistings.com/lview.php?state_sg=OH">Ohio Foreclosure Listings</a></li>
<li><a title="Cincinnati Foreclosure Listings" href="http://www.foreclosurelistings.com/lview.php?state_sg=OH&#038;county_name=HAMILTON&#038;city=CINCINNATI">Cincinnati Foreclosure Listings</a></li>
<li><a title="Cleveland Foreclosure Listings" href="http://www.foreclosurelistings.com/lview.php?state_sg=OH&#038;county_name=CUYAHOGA&#038;city=CLEVELAND">Cleveland Foreclosure Listings</a></li>
<li><a title="Columbus Foreclosure Listings" href="http://www.foreclosurelistings.com/lview.php?state_sg=OH&#038;county_name=FRANKLIN&#038;city=COLUMBUS">Columbus Foreclosure Listings</a></li>
<li><a title="Franklin Foreclosure Listings" href="http://www.foreclosurelistings.com/lview.php?state_sg=OH&#038;county_name=WARREN&#038;city=FRANKLIN">Franklin Foreclosure Listings</a></li>
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		<title>Afro-Americans And Hispanincs Will Be Absorbing Half The Nations’s Foreclosure Shock</title>
		<link>http://www.foreclosurelistings.com/blog/foreclosures/afro-americans-and-hispanincs-will-be-absorbing-half-the-nations%e2%80%99s-foreclosure-shock.htm</link>
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		<pubDate>Tue, 22 Jul 2008 12:52:30 +0000</pubDate>
		<dc:creator>Nehathegreat</dc:creator>
		
		<category><![CDATA[Foreclosures]]></category>

		<category><![CDATA[new york]]></category>

		<guid isPermaLink="false">http://www.foreclosurelistings.com/blog/?p=1271</guid>
		<description><![CDATA[Statistical evidence shows that over half of all Black borrowers who refinance in 2006 were made to swallow sub-prime mortgages. Latino borrowers faced a similar situation. Together they will suffer a loss ranging from $164 billion to $213 billion in the surging tide of foreclosures that have been wrecking havoc since that time. 
Each family [...]]]></description>
			<content:encoded><![CDATA[<p>Statistical evidence shows that over half of all Black borrowers who <a href="http://www.foreclosurelistings.com/refinance.php"><strong>refinance</strong></a> in 2006 were made to swallow sub-prime mortgages. Latino borrowers faced a similar situation. Together they will suffer a loss ranging from $164 billion to $213 billion in the surging tide of <a href="http://www.foreclosurelistings.com"><strong>foreclosures</strong></a> that have been wrecking havoc since that time. </p>
<p>Each family has a tragic tale to tell – individual and personal that is far more damaging than figures and numbers. The agony cannot be gauged by statistics alone.<br />
A staggering number of people were sold sub-prime <a href="http://www.foreclosurelistings.com/loans.php"><strong>loans</strong></a>. </p>
<p>One woman whose literacy level did not permit her to understand the nitty-gritty of <a href="http://www.foreclosurelistings.com/mortgage.php"><strong>mortgage</strong></a> ins and outs. An agent sold her a string of refinancing loans that summed up to more than $100,000. Now the house she bought in the 70’s is going to be lost.</p>
<p>The unethical brokers sniffed out people who for generations never had the chance to build up a good credit record. They were told that a godsend chance had come for them to turn their equity to advantage. Some people are skeptical about the high talk of banks and <a href="http://www.foreclosurelistings.com/lenders.php"><strong>lenders</strong></a>. But many others tended to trust them and the image they represent. They believed that the lending institutions have the best interests of the borrowers uppermost in their minds. It is this trust betrayed of the Hispanic and Afro-American neighbourhoods that the lenders betrayed.</p>
<p>Many who rose to the bait are now in the <a href="http://www.foreclosurelistings.com/foreclosure.php"><strong>foreclosure</strong></a> net. They continue to have a guilty feeling of having done something wrong. This negative bent of mind is very important to the lender community because it prevents the victims from retaliating.<br />
The foreclosure victims are traumatized into inaction.</p>
<p>To Afro-Americans the equity on the house is a very important thing – it is part of real wealth. There is no denying that a huge wealth gap exists between the black and while Americans. The lenders steered the minorities into high-risk loans in a very subtle way with the Judases among the Blacks who captured their prey in Black churches and meets. </p>
<p>Although the Afro-Americans and Hispanics will absorb about half the economic loss due to foreclosures they are definitely not half of all those who borrowed. The Black borrowers ranging from all economic levels were two to three times more likely to be saddled with sub-prime loans than the Whites. </p>
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		<title>San Francisco Foreclosures Deeply Concerning Federal Reserve</title>
		<link>http://www.foreclosurelistings.com/blog/foreclosures/san-francisco-foreclosures-deeply-concerning-federal-reserve.htm</link>
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		<pubDate>Mon, 21 Jul 2008 14:33:01 +0000</pubDate>
		<dc:creator>Nehathegreat</dc:creator>
		
		<category><![CDATA[Foreclosures]]></category>

		<category><![CDATA[san francisco]]></category>

		<guid isPermaLink="false">http://www.foreclosurelistings.com/blog/?p=1269</guid>
		<description><![CDATA[The surging foreclosures have deeply concerned the Federal Reserve Bank. Its San Francisco president, Janet Yellen has taken grave note of the impact on the foreclosures on families and localities. She was speaking at a conference in Los Angeles regarding community stabilization problems following the foreclosure crisis.
She said the swift pace of rising foreclosures has [...]]]></description>
			<content:encoded><![CDATA[<p>The surging <a href="http://www.foreclosurelistings.com"><strong>foreclosures</strong></a> have deeply concerned the Federal Reserve Bank. Its <strong><a href="http://www.foreclosurelistings.com/lview.php?state_sg=CA&#038;county_name=SAN FRANCISCO&#038;city=SAN FRANCISCO">San Francisco</a></strong> president, Janet Yellen has taken grave note of the impact on the foreclosures on families and localities. She was speaking at a conference in <strong><a href="http://www.foreclosurelistings.com/lview.php?state_sg=CA&#038;county_name=LOS ANGELES&#038;city=LOS ANGELES">Los Angeles</a></strong> regarding community stabilization problems following the <a href="http://www.foreclosurelistings.com/foreclosure.php"><strong>foreclosure</strong></a> crisis.<br />
She said the swift pace of rising foreclosures has had a snowballing effect on not just the immediate locality but on the general economy of America. </p>
<p>She continued that the country is facing severe challenges from foreclosures accompanied by credit crunch and record breaking fuel and food prices. It is imperative that at this juncture the policy makers will have to carefully monitor the course of events. Timely intervention will have to be made to bring down inflation levels allowing for employment and financial growth. Yellen clarified that the Federal Reserve considered the sky rocketing foreclosures as an “urgent problem”. The call of the hour was to prevent foreclosures in both public and private sectors. </p>
<p>Yellen concentrated on the effects of foreclosure in her district – the 12th for the Federal Reserve. She acknowledged that although many regions are battling foreclosures, it is particularly bad and intense in <strong><a href="http://www.foreclosurelistings.com/listings.php?state_sg=AZ">Arizona</a></strong>, <strong><a href="http://www.foreclosurelistings.com/listings.php?state_sg=CA">California</a></strong> and <strong><a href="http://www.foreclosurelistings.com/listings.php?state_sg=NV">Nevada</a></strong>. It has been “sudden and substantial.” Foreclosures are devastating not only for the borrowers but are also badly mauling the surrounding neighbourhood. </p>
<p>The plight of the borrowers can hardly be fully expressed in words. It is not just about the loss of the houses that are homes, but impairment of equity, bad credit ratings that limit the future accessibility of getting <a href="http://www.foreclosurelistings.com/loans.php"><strong>loans</strong></a> and starting life anew in a new house.<br />
The communities of the foreclosure regions are trapped in a “self-reinforcing cycle of decline”. Increasing foreclosures crowd into the market putting a strain on the local housing market that in turn leads to rise in further foreclosures from defaults.</p>
<p>Especially hurt are the families with low and middle income. Foreclosures are putting a stop to all endeavours to revitalize and upgrade neighbourhoods. This means that the results of foreclosures are going far beyond the housing sector. She added that meeting this challenge would require more vigorous and direct intervention both in the local as well as the federal level. </p>
<p>While all the talk and hype goes on, foreclosures continue to gallop ahead gleefully cutting into all sections of the socio-economic divide and sparing none. </p>
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		<title>Increase in Foreclosures Lead To Rise In Activities Of Rental Agents</title>
		<link>http://www.foreclosurelistings.com/blog/foreclosure-homes/increase-in-foreclosures-lead-to-rise-in-activities-of-rental-agents.htm</link>
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		<pubDate>Fri, 18 Jul 2008 12:07:08 +0000</pubDate>
		<dc:creator>Nehathegreat</dc:creator>
		
		<category><![CDATA[Foreclosure Homes]]></category>

		<category><![CDATA[michigan]]></category>

		<guid isPermaLink="false">http://www.foreclosurelistings.com/blog/?p=1268</guid>
		<description><![CDATA[In the Tri-Cities foreclosures are increasing and this is leading to a rise in the activities of rental agents. In 2007 there were 1,098 foreclosure postings in Saginaw marking a jump of 23%. In Bay County there were 403 evictions showing an increase of 9%. In Midland the tally of foreclosures was 207 – 6% [...]]]></description>
			<content:encoded><![CDATA[<p>In the Tri-Cities <a href="http://www.foreclosurelistings.com/foreclosures.php"><strong>foreclosures</strong></a> are increasing and this is leading to a rise in the activities of rental agents. In 2007 there were 1,098 <a href="http://www.foreclosurelistings.com/foreclosure.php"><strong>foreclosure</strong></a> postings in <strong><a href="http://www.foreclosurelistings.com/lview.php?state_sg=MI&#038;county_name=SAGINAW&#038;city=SAGINAW">Saginaw</a></strong> marking a jump of 23%. In <a href="http://www.foreclosurelistings.com/lview.php?state_sg=FL&#038;county_name=BAY"><strong>Bay County</strong></a> there were 403 evictions showing an increase of 9%. In Midland the tally of foreclosures was 207 – 6% more than the 2006. </p>
<p>The Landlord Association of Saginaw has taken note of the pressure on rental units. Butch Burden the president of the association said that this is but natural because “people have to have some place to live.”</p>
<p>The renters are becoming very choosy about the place where they want to stay. Most want to stay in the Midland on the west side of Saginaw and the suburban areas. Mike Haman of Haman Property Management says he has rental units in Saginaw Township, Vassar, Carrollton Township and Thomas Township. He comments that rental market has picked up and in the forthcoming years it will become more intense. Things are picking up but it will be about a year before the effects can be really gauged.</p>
<p>RealtyTrac reported that in Michigan there was an increase of foreclosures by 25% in comparison to May. This has made <a href="http://www.foreclosurelistings.com/listings.php?state_sg=MI"><strong>Michigan</strong></a> rank fifth in the national foreclosure race. In May it had ranked 9th. In Michigan the May foreclosure rate was 1:353. </p>
<p>RealtyTrac shows that across the country there were 261,255 foreclosure postings during May marking a 7% rise from April and a huge jump of 48% from May of the previous year. The national foreclosure rate is 1:483 in May – the highest monthly noting since RealtyTrac started collecting data from 2005. May was the third consecutive month that saw a month-by-month increase according to James Saccacio CEO of RealtyTrac. In May default notices increased by 1% and the auction sales were down by 3%. But during this month bank takeover of properties surged ahead marking double digit increases. It is more than double the numbers of May 2007. This calculated to a total number of 700,000 properties owned by the banks.</p>
<p>It also shows the number of families thrown out of their houses by foreclosures. They are rushing to seek rented accommodation. Many investors are finding it profitable to buy discount houses and convert it into rented units. But with so many houses crowding into the <a href="http://www.foreclosurelistings.com/real_estate_market.php"><strong>real estate market</strong></a> prices are tumbling. This is leading to apprehensions that prices might further fall. </p>
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		<title>Foreclosures Continue To Increase</title>
		<link>http://www.foreclosurelistings.com/blog/foreclosures/foreclosures-continue-to-increase.htm</link>
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		<pubDate>Thu, 17 Jul 2008 11:32:55 +0000</pubDate>
		<dc:creator>Nehathegreat</dc:creator>
		
		<category><![CDATA[Foreclosures]]></category>

		<category><![CDATA[california]]></category>

		<category><![CDATA[florida]]></category>

		<guid isPermaLink="false">http://www.foreclosurelistings.com/blog/?p=1267</guid>
		<description><![CDATA[All the indications are there of the worsening of economic gloom as foreclosures continue to increase unabated. The crisis gripping Fannie Mae and Freddie Mac, the two pillars of the mortgage industry, spells disaster. It means that getting a loan to buy a house is going to be more difficult than what it already is. [...]]]></description>
			<content:encoded><![CDATA[<p>All the indications are there of the worsening of economic gloom as <a href="http://www.foreclosurelistings.com"><strong>foreclosures</strong></a> continue to increase unabated. The crisis gripping Fannie Mae and Freddie Mac, the two pillars of the <a href="http://www.foreclosurelistings.com/mortgage.php"><strong>mortgage</strong></a> industry, spells disaster. It means that getting a loan to buy a house is going to be more difficult than what it already is. There is bound to be a rise in <a href="http://www.foreclosurelistings.com/mortgage_rates.php"><strong>mortgage rates</strong></a>. This is a warning to those thinking of buying a house or refinancing a property loan.</p>
<p>Those whose mortgages are already backed by Freddie Mac and Fannie Mae need not worry provided they are not in a pressing need to <a href="http://www.foreclosurelistings.com/refinance.php"><strong>refinance</strong></a>.</p>
<p>Further increase in rates will cause a further rush of foreclosures. Already thousands are grappling with reset mortgage rates from this summer. The lending crisis will also affect those looking for other types of financial assistance in the form of car or student <a href="http://www.foreclosurelistings.com/loans.php"><strong>loans</strong></a>.</p>
<p>Michael Kitces of Pinnacle Advisory Group, Columbia, aptly opines that a bank that loses out million on mortgage loans can hardly afford to advance money for more loans. The dollars are just not there. </p>
<p>The latest panic has been caused by the loss of confidence in the government supported loan giants – Fannie Mae and Freddie Mac. The timing has been disastrous. The jumbo mortgage giants badly need funds to stay on the rails. Keith Gumbinger of HSH Associates said that although it is difficult to predict the forthcoming maze of events, one thing is clear – capital will have to be raised somehow. To attract buyers to buy bonds for a shaken company, higher yields will have to be offered. The higher cost will then have to be passed on to those seeking loans. If the government fails to send out a lifeboat to Fannie Mae and Freddie Mac then mortgage rates will have to be pushed up above 7% for the first time since the last six years. This will considerably delay the recovery of the <a href="http://www.foreclosurelistings.com/real_estate_market.php"><strong>real estate market</strong></a> of the county. Even if the government gives a helping hand, increase of interest rate by at least half a percent is unavoidable because of the rising cost of selling mortgage-supported securities. </p>
<p>The national housing loan totals to $12 trillion. Freddie Mac and Fannie Mae own or back half the loans. In the past week all these loans have lost half their market value following doubts about the companies not having sufficient funds to meet the <a href="http://www.foreclosurelistings.com/foreclosure.php"><strong>foreclosure</strong></a> crisis. </p>
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		<title>The Green Lien Bill Will Help Foreclosure Blights</title>
		<link>http://www.foreclosurelistings.com/blog/foreclosure-homes/the-green-lien-bill-will-help-foreclosure-blights.htm</link>
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		<pubDate>Wed, 16 Jul 2008 13:58:45 +0000</pubDate>
		<dc:creator>Nehathegreat</dc:creator>
		
		<category><![CDATA[Foreclosure Homes]]></category>

		<category><![CDATA[california]]></category>

		<guid isPermaLink="false">http://www.foreclosurelistings.com/blog/?p=1266</guid>
		<description><![CDATA[The expectation in Inland California is that the Green Lien bill will help foreclosure blights. Foreclosures are leading to a chain of abandoned properties that have been repossessed by the banks. 
The Elsinore Valley Municipal Water District has proposed a programme that is known as “Green Lien”. It is hoped that this will go a [...]]]></description>
			<content:encoded><![CDATA[<p>The expectation in Inland <strong><a href="http://www.foreclosurelistings.com/listings.php?state_sg=CA">California</a></strong> is that the Green Lien bill will help <a href="http://www.foreclosurelistings.com"><strong>foreclosure</strong></a> blights. <a href="http://www.foreclosurelistings.com/foreclosures.php"><strong>Foreclosures</strong></a> are leading to a chain of abandoned properties that have been repossessed by the banks. </p>
<p>The Elsinore Valley Municipal Water District has proposed a programme that is known as “Green Lien”. It is hoped that this will go a long way in solving this particular foreclosure related problem. The <a href="http://www.foreclosurelistings.com/lenders.php"><strong>lenders</strong></a> or the owners of the vacant houses will have to accept a tax lien on the houses to keep water meters running. Property owners will then be able to continue with the watering of the gardens and lawns until the houses are sold. </p>
<p>However the lien would be of a voluntary nature. The cost incurred by the district would be recovered before the house changes hands. The proposal will be discussed at the next meeting. The water officials of the region opine that the plan is the first one of its kind. Greg Morrison speaking on behalf of Elsinore Valley said, “We understand the impact of the foreclosure crisis.” That is why the city together with the water district and the lenders are trying to solve the problem in this unique way. </p>
<p>Other ways of addressing the problem of empty <a href="http://www.foreclosurelistings.com/foreclosed.php"><strong>foreclosed</strong></a> houses are being mulled over by different area agencies. Ordinances are in force in Lake Elsinor, Temecula and Murrieta that make it compulsory for lenders to register the empty properties they have repossessed.</p>
<p>Lake Elsinore authorities are also thinking of using water trucks to wet the brown gardens within the limits of the city. The plan is that Elsinore Valley will supply recycled water to the city.</p>
<p>The steps being thought of couldn’t have been at a more appropriate time. Over 1,000 properties in the district are in foreclosure according to RealtyTrac. Hundreds are lying vacant with the typical symptoms of an abandoned unit – dying dry lawns. A cluster of these barren lawns could easily bring down the price of adjacent houses. Vacant properties are magnets for crime and disease making it difficult for houses to be sold in the <a href="http://www.foreclosurelistings.com/real_estate_market.php"><strong>real estate market</strong></a>. The locality gets a bad name. Gene Wunderlich of Southwest <a href="http://www.foreclosurelistings.com/lview.php?state_sg=CA&#038;county_name=RIVERSIDE"><strong>Riverside County</strong></a> Association of Realtors say that the dry parched lawns seem to say, “Nobody’s here, do what you want!” Wunderlich feels that although nobody has heard of the Green Lien before it has the potential to interest realtors and neighbours.</p>
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