The impoverished foreclosure victims are sans proper legal help. More than 300,000 residential houses are being served with a foreclosure notice per month. The situation has become all the more crushing because of the lack of proper legal help for the hapless foreclosure victims.
As per the findings of a new survey conducted by Brennan Center [...]
The unfolding of the foreclosure drama starting with the taking over of mortgage giants Fannie Mae and Freddie Mac reads like a horror film. It stopped the financial system from totally collapsing. Dave Rovelli of Canaccord Adams of New York commenting on the move said, “It saves Armageddon from happening.”
But within the passage of 24 [...]
The winter of foreclosures in Southampton Village is biting cold. It is the summer retreat for the moneyed class of New York. But here too foreclosures are making its presence felt with sale signs posted on driveways.
One house on Osborne Avenue is suffering this sign for 8 long years. Poring through the records [...]
The foreclosure climate is bad but it is being further clouded by recalcitrant landlords who are not timely paying taxes and playing hide-and-seek with security deposits.
An investigation team in Rochester has made note that one landlord owes the city over half a million as taxes. Char Bren Development is the owner of dozens of units [...]
Abandoned foreclosed houses in Queens are being taken over by criminals. A survey conducted by ACORN shows that the areas where foreclosures have been high have reported increased number of criminal activities.
Crime has fallen in only two foreclosure concentrated areas – South Ozone Park and Queens Village. In all of the eight areas with [...]
It is happening in places all over the country with variations in intensity here and there – community recoveries are slipping back into the blight of foreclosures. Central Islip in New York State is one of those places.
Central Islip is a community in Long Island. About 32,000 people reside here. It is modest locality [...]
The ordinary American – the taxpayer – is furious about bailing out foreclosure victims. The government however did not consult them when committing their money to bail out those who had failed to keep their mortgage commitments and were facing foreclosure. Taxpayer’s dollars – billions of dollars are being used to guarantee loans through FHASecure [...]
It is the same story right across America – foreclosure sales are becoming more and more popular. Of all the properties in the market, a third come from the foreclosure zone. Most of them are bargain deals with banks offering heavy discounts. This is pushing down the real estate market prices to unprecedented levels.
A popular [...]
