Foreclosures in the subprime market have nose-dived. The news media are choking with information. The sub-prime was set up to help the low-income group or those with bad credit history. But it is this group’s dream houses are crumbling like sand castles. But mortgage representatives as well as the Federal Reserve Bank have rushed in [...]

Government officials together with executives from prime mortgage lending firms of Massachusetts are to meet today to discuss avenues of escape for the victims of foreclosures. Dan O’Connell, the secretary of Housing and Economic Development of the Patrick administration has taken the initiative. He corresponded with executives of top ten mortgage firms in Massachusetts asking [...]

Record numbers of foreclosures have hit the headlines. Defaulting in more than two repayments allows the lender to file a legal notice. California, Florida, Nevada and Arizona top the list in foreclosures. Massive job cuts in Ohio, Michigan and Indiana have also led to the foreclosure crisis. Short selling has come out to be an [...]

In the first five months of this year, countless homeowners felt the sting of foreclosures. But foreclosure expert McGee, president of foreclosures.com, suggests that the numbers are confusing. It does not necessarily mean that the national economy is floundering. The Mortgage Bankers Association echoes these sentiments. Except for a few states, the overall numbers of [...]

Mortgage disclosures keep many clauses carefully confused. This is the opinion of Federal Trade commission’s Bureau of Economics. With changes here and there borrowers could get a much better deal. A serious study was made of 800 mortgages covering 12 areas across the country. Half were given current mortgage disclosure forms and half given other [...]

June is the month for celebrating National Home Ownership. The purpose is to inculcate into the people the value of putting down roots – lighting the home fires under a roof of one’s own. It is a common American dream, which has suddenly become a nightmare. Property prices are tumbling, foreclosures are rising and the [...]

Mortgage defaulters who are facing foreclosures are waiting for help from Washington. The authorities however have taken a wait and watch stand to the fallout resulting in years of lending practice without being backed by sufficient credibility. The market is showing signs of self-recovery and the overall economy seems to remain untouched. At this point [...]

Five bills, introduced last year, are intended to stop the landslide loss of homes in Colorado. Governor Bill Ritter is expected to sign a package of mortgage related bills. The aim is to protect consumers from the rising tsunami of foreclosures. Brother’s Redevelopment Inc. in Denver is in charge of the state’s hotline dealing with [...]