This is one of the most challenging phases in the American economy. The real estate industry is in doldrums and the housing sector is riddled with foreclosures. Prices have plunged to an all-time low. Across York County, the number of houses recorded for sale increased by a whopping 80.3 per cent — from 706 four [...]
Foreclosed Cleveland is gasping to survive but efforts are on to turn the tide. Federal help is coming through to purchase and renovate foreclosed houses but Cleveland wanted help to demolish properties and clean the region of the mess and give Cleveland a new look. Cleveland is trying to make the banks agree to get [...]
Cheap foreclosed houses are drawing people like magnets. Within two years the value of a house in Glendale fell from $259,000 to $113,000. One in Phoenix dropped from $190,000 to only $45,900. It had cost $275,000 to build a house in Queen Creek in 2005. It was recently asking for $78,000. The entire real estate [...]
Not all regions are equally benefiting from foreclosure rescue measures. So far only two families have got help from a programme in Plantation. Initially it promised help to those borrowers who were failing in their mortgage payments or if funds were required to make security deposits for rentals. The plan had started in August 2008. [...]
The stimulus package being introduced by President Obama aiming to help the foreclosed economy holds out hope for senior citizens.
Those Americans who have crossed 55 are most susceptible to the economic pressure because they do not have much time at hand to recover losses. For the elders housing is an important issue – [...]
There are many living in foreclosed houses but when the mother of Octuplets is doing so, it draws attention. Nadya Suleman is being referred to as Octomom when she gave birth to eight babies simultaneously. She is a 33-year-old mother supporting her six other children on food stamps, educational loans and disability handouts. She is [...]
Innovative artistic touches are transforming the complexion of foreclosed houses and the entire neighbourhood. It is a ray of sunshine in the middle of a decaying automobile industry, increasing unemployment and thousands of foreclosures in Detroit. But Mitch Cope together with his wife Gina is endeavouring to change the scene tackling the houses one by [...]
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 low [...]
