It is not so much sub-prime mortgages but recession that is at the root cause of rising foreclosures. In 2008 it was the toxic loans that had triggered the foreclosure wave but in the current year it is the bad days that are responsible for throwing out people from their houses.
Compared to the previous year [...]
Ohio is fed up with continued pace of foreclosures – a House panel has placed a six month moratorium on foreclosures. To deter the process the bill has also increased the fees for filing. The ultimate target is to see that the lenders and borrowers amicably work out the problem.
The residents of Ohio will get [...]
The housing crisis has caused many foreclosure evictions. This in turn has put pressure on rented units. Increase in rental vacancies point to a change in the housing climate
Bailouts will not solve foreclosure related crisis that has spun out of control, gobbling up property values, opines Center for Responsible Learning.
It feels that the government steps as announced by Paulson and the Fed does not go deep down into the root of the foreclosure-ridden problems. It is simply a bailout and nothing more. The [...]
No matter what the pundits say the dramatic jump of foreclosures in June points to recession. Bush, Bernanke and Paulson know it but will not admit the truth. Foreclosure activity has reached record heights since the 1930’s Depression. The trio thinks that by ignoring facts and looking aside they can roll on till the November [...]
Most of the jumbo lenders have agreed to stipulate certain common guidelines to mitigate problems of foreclosure. The aim will be to highlight options and alternatives before proceeding with the same.
The plan however is voluntary without legal bindings. It was released by the Hope Now alliance – a federally baked group of lenders and [...]
The courtrooms in Bakersfield, California are jam-packed leaving standing space only. Auctioneer Sam Marshall says it is big business as the numbers roll in. Banks are desperate to reduce their inventory as they are weighed down with innumerable foreclosures. Foreclosure numbers are now breaking own records in the first quarter of the current year 2008, [...]
The increasing numbers of foreclosures, defaults and delinquencies have broken past records in the first quarter of 2008. The apprehension is that this trend will continue causing damage to the real estate market and the economy in general.
According to latest figures that proportion of loans that slipped into foreclosures increased by 0.99% through this [...]
