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 – especially [...]

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 [...]

The general opinion is that the market will stabilize by preventing foreclosure. But another school of pundits opine that this will rather harm the real estate market. On the other hand the only way out of this impasse is by speeding up foreclosures. By reducing the amount paid by borrowers towards mortgages might delay foreclosures, [...]

Foreclosures have once more brought together Obama and ACORN. Immediately after the signing of the trillion dollars bill in Denver Obama kicked off New Raw Deal – a jumbo-sized mortgage plan that will force lenders to modify loans and refinance. The initial cost stretches from $50 billion to $100 billion. This is on top of [...]

Driving through miles and miles of foreclosed America is no longer a pleasure – it just evokes memories of happier days. After Pennsylvania the Ohio turnpike snakes on towards Canada. The traffic is thin on the six-lane highway that was once snarling with full loads of tuck. For miles on end there is nothing in [...]

Since the surfacing of the financial crisis the banks in USA have been making noises and posturing about helping to resolve the problem but they are hypocritical in their stand towards the foreclosure crisis. Some bankers at a glamorous meeting on 18th April 2007 went so far as to say that there were doubts if [...]