The situation is indeed a tricky one. As the American economy goes through one of its deepest recessions and unemployment rises, foreclosures have become very common. Now the question that arises is will a resident default on his mortgage payment if he had the option of making the monthly payment? According to research conducted by [...]

Foreclosures are at an all time high in the US. Along with default notices, bank takeovers were noted on 803,489 homes in the first half of this year. This is a 9% jump from the earlier quarter and a 24% increase from the first half of 2008. This means one in 159 houses has been [...]

Steps are being taken in Nevada to reduce the pace of foreclosures. Barbara Buckley, the Speaker of the Assembly, introduced on Monday a bill that she hopes will bring down of the number of foreclosed houses by nearly 12,970. As per the provisions of the Bill 149, the lender would be expected to make a [...]

The figures are staggering. From July right through to September each day 2,7000 Americans surrendered their houses to foreclosures. A year ago the number was 1,200 per day. It is an indication that the measures undertaken by the mortgage world and the government are inadequate. The foreclosure victims continue to boil in the soup despite [...]

For the 17th running month Nevada remained holding to the top position as the worst foreclosure offender. In May the foreclosure rate in Clark County is 1:96. Alarmed at the continued trend the leaders are organizing foreclosures counseling sessions to stem the tide. Senator Harry Reid (D- Nevada) has given the lead. The third foreclosure [...]

With the housing crisis being uppermost in the minds of vote seekers the presidential candidates views on foreclosures are of great importance. In North Las Vegas, Democratic candidate Barrack Obama hit out at Republican John McCain for his link with the foreclosure related mess made by the Bush administration. McCain was derided for being “out [...]

House Democrats are going ahead with a bill, which will offer states $15 billion in grants and loans to buy and revamp deserted homes. The Bush administration has threatened to veto this legislation. The White House’s Office of Management and Budget said that if the bill were to be presented to President George W. Bush, [...]

The hunting instinct has not gone out of vogue – is very much there with outward cosmetic changes. Today busloads of hunters are on a foreclosure safari – trying to target sitting ducks. It is a common scene now – also in Prince William County. Real estate companies chartered a bus carrying 25 prospective buyers [...]