The recession, triggered by the foreclosure crisis has hit the Afro-Americans worst. Unprecedented unemployment has totally erased the wealth of an entire generation of the Black middle-class. The vigorous job market during the 90’s had made life somewhat easy for thousands and thousands of Afro-Americans who had moved up to join the ranks of the [...]

The historical collapse of the biggest bank in USA, Washington Mutual, highlighted the drama of the foreclosure crisis. After the federal takeover of Washington Mutual in September 2008 the previous staff continued to arrive for work for many days – drifting around and twiddling their fingers till the close of January 2009 when they were [...]

The National Association of Home Builders recently approached the Congress to see to it that the housing sector once more took a leading role in bringing back drive to the economy. It wanted speedy action to stretch and increase the limits of $8,000 being offered as tax credit to first time nest builders. The association [...]

The foreclosure situation has radically changed the financial thinking of many older baby boomers. The financial advisers who are in charge of $10 trillion as assets will change their priorities as regards investments when they reach retirement point. This was one such view from a senior official at BlackRock Inc. They will move on from [...]

The current foreclosure crisis has exposed the vulnerability of a nation that is not properly educated. Meanwhile compared to other developed nations American numbers of higher educated persons have fallen back. The current crisis expedited the trend of falling back. The social security net is in tatters and this is causing many more students in [...]

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 [...]

Legal firms under the lead of United Law Group joined hands in firm handshakes with 30 other prominent legal companies to from Crisis Commission on Homeowner Representation. United Law Group is one of the leading law firms with branches across the country – Arizona, California, Florida, Nevada, New York and Ohio. It has licensed attorneys [...]

The strong message that the foreclosure crisis has called for a revolutionary change in prosperity has been highlighted in a report released by two Nobel Prize winning economists Joseph E. Stiglitz and Amartya Sen. By using the GDP as an yardstick the policies undertaken by governments have been erroneous causing the worst crisis since the [...]