There are innumerable flaws in the foreclosure system as is evident from the fact that in Bridgeport City tax debts amounting to a meagre $51.69 can cause foreclosures to snap up the property. The system of collection of back log taxes seems to have broken down as can be seen in the case of Jean [...]

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 the [...]

Foreclosures in California reached a new high with banks taking over properties with a renewed effort. In April, foreclosure notices were issued to 96,560 homeowners in California. This means that one in each 138 homes has been foreclosed, which is a 42 per cent jump from a year earlier. The federal government had earlier imposed [...]

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. [...]

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, which has caused many homeowners in give away pets. Unfortunately, it is often a heart rending decision. One of these animal victims is Julie-a pit-bull terrier. She had to be removed from a home in Orange County because her owner could not look after her anymore when indifferent health and [...]

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 the economic downturn running [...]