The foreclosure crisis is prompting calls for change. The administration is being constantly blamed for everything. The Clinton government put pressure on Fannie Mae and Freddie Mac to issue defective loans to people who did not have the income to repay them. This kicked off the ball that set into motion the foreclosure crisis and [...]

Hartford City taxes are proving to be more taxing than foreclosure woes. This year there has been a staggering increase in property taxes in Hartford – increase of about 13% for the average owner. He has been raising taxes for five running years. One homeowner complains that the taxes are more than the monthly mortgage [...]

Foreclosure news is taking precedence over all other issues – including those coming in from Afghanistan, Iran and South Korea. The international emergency that foreclosures have created poses a greater threat to the stability of the world than blood baths elsewhere in the world. This is the view of Joel p. Trachtman of Fletcher School [...]

There has been a dramatic increase in foreclosures in Chicago during the first quarter of 2009. The sub-prime mortgage crisis is not connected with this new flood. The reason is massive job losses that have compelled borrowers to default in their mortgage payments and suffer foreclosures. In the first quarter of the current year foreclosure [...]

Cheap foreclosed houses are drawing people like magnets. Within two years the value of a house in Glendale fell from $259,000 to $113,000. One in Phoenix dropped from $190,000 to only $45,900. It had cost $275,000 to build a house in Queen Creek in 2005. It was recently asking for $78,000. The entire real estate [...]

Ohio is fed up with continued pace of foreclosures – a House panel has placed a six month moratorium on foreclosures. To deter the process the bill has also increased the fees for filing. The ultimate target is to see that the lenders and borrowers amicably work out the problem. The residents of Ohio will [...]

Shelby County is poised to file lawsuits against banks for their dubious foreclosure activities. At stake will be millions of dollars. It is an effort on the part of the administration to plug the flood of foreclosures. The County Commission voted unanimously (8/0) during the second week of May 2009 to authorize the county to [...]

With banks not cooperating in foreclosure short sales it is difficult for the foreclosure rage to be tamed. If the banks lose 19% by opting for short sales and 40% by following foreclosure why are the banks not being prudent and remaining stubborn? There are so many numbers involved that it would have led to [...]