Obama wants part of the bailout package to be utilized for stemming the foreclosure tide. In this respect he is not at one with the views of Henry Paulson on the way the $700 billion is to be used. On Wednesday 3rd December 2008 he gave out clear signals that he wanted to use a [...]

The foreclosure crisis was the blazing background against which Obama campaigned and won. But that has become history. Today he has to tackle the foreclosure problem and to do so the focus has to be on taxes He promised to lower taxes for the middle class but increase them for those with more than an [...]

The mortgage investors and middlemen are denying that they are hindering the foreclosure relief measures. The lawmakers are skeptical about their sincerity. Tom Deutsch of American Securitization Forum speaking to the House Financial Services Committee said, “Because foreclosure is usually the most costly means of resolving a loan default, it is typically the least-preferred alternative [...]

Unless adequate steps are taken there is difficulty in tracking owners of vacant foreclosed houses. The problem of abandoned units is a plague running through the country. The summer rains have focused on the problem. Bob Spivey is a Code Enforcement Director of Orange County. He sends his personnel to trim lawns of foreclosed houses [...]

The foreclosure related crisis has turned the social picture upside down. Women who stay at home are now looking earnestly for side jobs to supplement the dwindling income of the family. Tupperware is on top of the list. It deals with direct sales and is much sought after by the women at home. Even workingwomen [...]

Opinions continue to vary as to how exactly the $700 bailout will be used. The original plan was to buy the securities that were backed by the soured mortgages at a rate slightly higher than the current price from the collapsing banks so as to thaw the frozen credit market. Then it was said that [...]

Rise in foreclosures have led to an increase in demand for rented accommodation. The story of Praga and her family are one of the many across the country. She was living with her husband and four children together with her sister’s family in the Evergreen region of San Jose in a four bed roomed house. [...]

The tax assessments on properties are unusually high in the localities that have been badly hit by foreclosures. For residents it is a double whammy coming from foreclosures and assessments according to the findings of an advocacy group from Atlanta. The survey included in its study the metro regions of five counties and concluded that [...]