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Is Renting the Answer to Rehabilitating Abandoned Foreclosed Units?

The Center for American Progress, responding to the request by the federal government for ideas regarding what is to be done with vacant foreclosed units suggested that FHA, Fannie and Freddie, since they hold the maximum number of such units, should lease it out to occupants holding out options of later ownership.

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Infographic: An Overview of the Commercial Real Estate Market

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Infographic: Occupy Wall St

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Perhaps the Shadow-Supply of Foreclosures is Not as Bad as Touted

There has been strong demand for foreclosed units inCalifornia. Mortgage delinquencies numbers have been going down. These two factors give rise to the hope that perhaps the end of the vicious cycle of foreclosures feeding on the foreclosed market is in sight. Ironically it is the investors and speculators that will be able to do this.

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Infographic: New Year Resolution

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President Bill Clinton

Former president Bill Clinton referred to the persisting foreclosure crisis as a choking chain round the neck of America

Anne Finucane the image building official of BofA, shared the stage with Bill Clinton. She agreed with him when he focused on the continuing foreclosure crisis. Her job was to sense the mood of the public and at this juncture it is a tricky job. Early in her career she came to realize the dangers of predatory lending.

Reviewing of foreclosures will take much longer than previously estimated.

Reviewing of Foreclosures Will Take Much Longer than Previously Estimated

Last April the federal regulator ordered 14 mortgage servicers to engage independent agencies to review the foreclosures taken on owners of primary residences during 2009 and 2010 for finding out any wrongdoing. Considering the volume of work and its complexity the agencies have asked for extended time.

Zuccotti Park continues to be the focus of anti-foreclosure activists OWS.

Zuccotti Park Continues to Be the Focus of Anti-Foreclosure Activists OWS

Zuccotti remains the focal meeting point of the OWS activists. Since they cannot camp overnight in public spaces they are seeking shelters in some churches in an organized manner. Committees have been formed to pay for utilities, cleaning up and security. Those seeking shelter here have to enlist themselves. Churches will offer hospital through winter.

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