Property taxes are being affected by the ongoing foreclosure crisis. Calculating the value of property requires a linear process. The price paid for similar properties in the same area is studied and the value calculated accordingly. Apparently there is not much scope for confusion.
It is supposed to be neither too complicated nor subjective. Thus [...]
There are sure signs that the federal homeowner plan is impacting on the number of foreclosures.
Craig Vale was one of the many who had given up all hope of winning against foreclosure when he heard about the new plan launched this year. It was like manna from heaven for this unemployed borrower. During [...]
Foreclosures together with recession are tearing apart the social fabric. The biggest price is being paid by the children. Lives are being twisted and warped – something that happened during the time of the Great Depression.
This time hunger and homelessness are not that acute and obvious. It is far more subtle but equally devastating. The [...]
There is no respite for condo associations in Florida who are faced with the problem of foreclosed vacant units. This has led to a dwindling of subscription towards the fees for the association making it difficult for them to continue with providing services to those owners still residing in the condos and who have not [...]
Foreclosures are largely responsible for the economic downturn and this is causing many to give away pets as they cannot cope with their own lives. It is often a heart rending decision.
One of the animal victims is Julie a pit bullterrier. She had to be removed to a home in Orange County because her owner [...]
This story is evidence that the financial state of the country is touching people in all walks of life and of every economic status. The former wife of former NFL Star Bob Whitfield and the star of the Bravo Channel’s Real Housewives of Atlanta fell victim to the foreclosure due to [...]
In Georgia the foreclosure situation is grim with one out of every eight mortgages being affected. Budget cuts have further aggravated matters. The resources that the state had for helping the victims are now shrinking. Most of the staff so far employed in handling mortgage problems has been given marching orders. Now there is only [...]
Simon Johnson an economist from MIT opines that the foreclosure crisis has been aggravated by unhealthy banks. He said, “A desperately ill banking sector that threatens to choke off any incipient recovery is a network of connections and ideology that give the financial sector a veto over public policy, even as it loses popular support.”
Nobel [...]
