The calendar year 2009 was a record one in many ways. Not the least of these is the fact that 89 banks actually closed, were forced to close or merged and were absorbed by another entity. These banks used poor judgement and the money that they wasted caused a huge dent in the economy and [...]

The foreclosure crisis is causing a change of attitude towards dreams and its interpretations. Decades old indifference to dreams, that has always been given great importance in all ancient cultures, is being discarded. Serious attempts are being made to rent the veil of ignorance behind dreams. There are more cases of people suffering from nightmares [...]

The usual level of poverty among the elderly has been 10%. But currently the foreclosure related crisis has led to the numbers being doubled. More elderly Americans are entering the poverty zone. This is as per revision of a 50 year old yardstick for measuring medical expenses and area variations regarding the cost of living. [...]

The foreclosure related crisis is having an effect on prayer outsourcing to Indian churches. Only about one year ago Europeans, Canadians and Americans used to flood Indian churches. Today the Indian church authorities are noting a sharp drop in these requests for “Mass intentions” coming from outside. This drop is timed with the economic downturn. [...]

The Federal Bank has announced that the end of recession is near. But the forestry sector in industry is not reassured as the housing market in USA continues to be laced with troubles and circulation of newspapers dropping. Simultaneously the rising dollar of Canada is putting more pressure on exports. In the last week of [...]

Hedge funds had a major role to play in the foreclosure crisis and the government is keen to clip its wings so as to disallow a repeat. Arthur Samburg’s sudden announcement that he was shutting down his hedge fund amounting to $3 billion, strong rumours began to circulate in Wall Street that the Federal regulators [...]

It seems that mortgage servicers are repeating the same blunders that culminated in the current foreclosure crisis. The risk of fraud is rising noticeable and so too the number of re-defaults. Despite media focus on what caused the damage to the mortgage industry nationally and to the international economy, the mortgage servicers continue to be [...]

The South Carolina judiciary has stepped in to apply brakes to the foreclosure engine. In the second quarter of this year lenders accelerated their foreclosure activity in Charleston region. At this point the Supreme Court ruling slowed down the pace causing lesser number of foreclosures. This court-imposed restriction cannot be taken to be an indication [...]