The American government failed to take note of warnings from increasing number of foreclosures. The Bush administration did not pay heed to suggestions to crackdown on risky mortgages that were touted with no-down-payment and interest-only options. The government was being pressurized to ignore these warnings and proposals by the same banks that are now down [...]

Foreclosures and delinquencies are now attacking prime mortgage borrowers. Across the nation, 3.07% of all the prime mortgages had entered the dreaded foreclosure zone or were late by 60 days during the second quarter of 2008. The previous record of 1.97% of 1985 has been broken by leaps and bounds according to Mortgage Bankers Association. [...]

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 [...]

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 foreclosure crisis has brought about a total change in the philosophy and thinking of developers and builders. Hitherto the focus was on making money by building large ritzy houses but now the strategy is rescheduling building designs keeping in mind the adage that ‘less is more’ or the smaller houses sell better and bring [...]

Foreclosures have claimed another victim. A woman sets fire to her house and then killed herself. According to police reports, Wanda Dunn, 53, in a planned way packed her bags on the night prior to her death. She left them on the front doorsteps of her neighbour together with instructions about what they should do [...]

It is good news for over 120,000 foreclosure victims of California that a massive relief operation is on way. BofA or Bank of American Corporation will be providing $3.5 billion as loans for mitigation of the foreclosure crisis to settle the legal suits that it has taken over from Countrywide in July. Bofa also inherited [...]

It is obvious, that there are certain changes happening with the systems and the policies of a country many times. It is the same with California, as their policies also keep on changing every now and then. Now, let’s discuss a little about foreclosure. Foreclosure is all about those people who forget to do a [...]