Marengo based Linden Lumber business concern has been able to avoid the crisis of foreclosure by arranging for and repaying a debt of $5 million. This was stated by Federal Land Bank last Friday. The representative of the bank said that a new settlement has been arrived at regarding repayment of the $5 million dues. [...]

During the second quarter of this year the foreclosure rate in Utah is down in comparison to what it was the previous year. It remains far behind the average national figures where the number of foreclosure units is staggering. Towards the end of the June 2007 there were only 0.55% properties in Utah suffering the [...]

According to a survey in 2006 Detroit recorded the highest high-cost mortgages in the previous year. A community activist organization, Acorn, has been studying in depth the fall out of mortgages. They have concluded that relatively more Afro-American and Hispanic borrowers have been victims of high-cost mortgage schemes in comparison to the whites. Thus more [...]

The country is in the grip of foreclosure crisis – the worst in 16 years. The Federal Reserve and other allied banking regulators have taken the unprecedented step of appealing to the mortgage lenders not to rush on with proceedings. The man in the street has been surprised by the move – the likes of [...]

Abandoned homes and ‘For Sale’ signs dotting the landscape send shivers down the community. Elected representative are humming and hawing about finding funds to fight the menace but others in the locality are not willing to buckle under without giving a fight. Mayors in the Chicago region consisting of 272 members recently held a meeting [...]

If President Bush has his way then the residents of Las Vegas victimized by the foreclosure crisis will heave a sigh of relief. The President does not think it is a bail out operation to help lenders and speculators but is meant to help borrowers who are in the soup worried about the roof above [...]

So far the going has been good for those with poor credit to try and own a house. In the sub-prime market not many questions had been asked and loans had been easy. But with the foreclosure raging through the country mortgage lenders have been tightening their belts making it difficult for house loans to [...]

The figures released by Colorado Housing during the second quarter speak volumes. There have been 10,017 new filings – which makes it 6% up from the first quarter. Colorado is thus showing a 25% rise in this year. There is apprehension that before the year dies out the numbers will further increase with many ARM’s [...]