The foreclosure related crisis is having an effect on prayer outsourcing to Indian churches. Only about one year ago Europeans, Canadians and Americans used to flood Indian churches.
Today the Indian church authorities are noting a sharp drop in these requests for “Mass intentions” coming from outside. This drop is timed with the economic downturn.
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None of the remedies are working. Foreclosure crisis continues to be a mess. Both the Bush and Obama governments toed the same line of throwing trillions of dollars to the banks and lenders. The financial tsars were thrilled to pocket $1.2 trillion from the toxic assets that the federal government covered. They pocketed billions more [...]
Foreclosures are having a mixed impact on shares at Home Depot and Lowe according to the top executives of both. It is of importance as new data about increasing pace of foreclosures is rolling in. The shares of Home Depot (component of Dow) traded down 3.0% at $22.63. The shares of Lowe fell by 3.4% and traded at $18.97.
The general pattern is that sales of Lowe dropped as foreclosures increased.
NBC News reported that one bright spot in the housing crisis actually favors first time homebuyers. Houses that were out of reach for a lot of people or people looking to buy in better neighborhoods for a long time found it unobtainable. The recent trouble in the real estate market has made it easier for [...]
The raging foreclosure problem is being tackled with handing out bailout funds to banks. While most of the national banks are rushing with hats in their hands, two local banks on Hampton Road have declined the offer!
Old Point National Bank and Chesapeake Bank had not applied for monetary help from TARP (Troubled Asset [...]
Foreclosures respect nothing – they are now knocking on church doors. During the time of the housing boom the church authorities dreamt in a big way – dreams that are turning into nightmares of debt and foreclosures.
Recently a survey is being undertaken about churches and foreclosures. It is not clear as yet how [...]
The foreclosure situation is worsening every 13 seconds with another house slipping into the dreaded zone, according to the Center for Responsible Learning of CLR. It is a non-partisan group engaged in research. Each day about 6,600 residential houses are foreclosed that calculates to one per 13 seconds. All the housing pundits agree that the [...]
The continuing foreclosure crisis is wearing out the patience of the Americans. How long more will they have to wait to see a change come? One dose of bad news follows another – the slump in the stock market, increasing unemployment and billions of taxpayer’s money vanishing into bailout packages.
Many like Ron Zick of [...]
