Howling scavengers – the jackals and vultures, inevitably follow the predators. Rescue scammers who pose as helpers have closely followed the foreclosure crisis. The traumatized victims cry on their shoulders only to discover later that whatever was left in their pockets have been neatly picked. A federal indictment report exposed that six people were accused [...]

The local and state governments will be gathering down for the budget session for the fiscal years 2008-09. But they are in a tizzy and huddling together over the newsbreak that foreclosures will soon seep into the smaller communities. This will worsen the situation with another 1.4 million houses being caught in the foreclosure net. [...]

The statistics in Washington, Sacramento and the Inland Empire is grim with one out of 43 residences stained with foreclosure. Officials are scrambling with funds, legal steps and plans to help the house owners stay in their homes and snub predatory lending methods leading to foreclosures. But the clock is ticking. Speaker Nunez is pressing [...]

Foreclosures have devastated house owners together with entire neighbourhoods. Now it is time for the tax department to feel the hard pinch. The treasury offices across the country are getting ready for the river of taxes to run dry. Innumerable houses in Cleveland have been damaged by vandalism, fires and the weather to a point [...]

Ted Strickland, the Governor of Ohio has strongly appealed to non-profit community organizations to sort out the muddle in the foreclosure crisis. His speech was the focus in the annual conference of Ohio’s Community Development Corporation held in Quaker Square at Crown Plaza Hotel at the end of the week. The organization has always been [...]

Michigan ranked 6th in the country with 15,565 foreclosure in some stage of foreclosure or the other. It showed an 11% rise above July figures and a 126% high jump from the month of August in the previous year. The numbers tagged to Michigan are inclusive of 3,534 units that went into delinquency, 6,572 that [...]

Stockton has the dubious distinction of ranking first in the foreclosure race with 8000 foreclosures this year. Stockton has a population of about 300,000. One in every 27 houses has slipped into foreclosure. The highest concentration is in Weston Ranch region of Stockton. The figures have been released ACORN, a non-profit organization. The inhabitants belong [...]

Borrowers took loans to buy a house and make it into a homeBut unwittingly they got into a financial snarl which is compelling thousands and thousands to abandon their hearth and home. It is a foreclosure crisis of jumbo proportions. The sub-prime loans were an outrage – an insult to those with weak credit. Today [...]