Mortgage giants Fannie Mae and Freddie Mac were asked to suspend foreclosure filings on mortgage loans by four democrat senators in the US. The Federal regulator and the newly appointed Chief Executive who have taken over the administration of the mortgage companies had instructed them to hold foreclosure proceedings temporarily in abeyance. Fannie and Freddie [...]

Court foreclosures are rare and most foreclosure take place out of court. This also depends on whether the there are problems with the title or if the mortgage does not have a provision allowing the lender the rights to sell a property on default. The foreclosure process starts when a lender gives attorney’s the necessary [...]

Reports coming in from Ohio show that the tenants are the silent victims of the foreclosure crisis. Their voices remain unheard. The income of the ordinary people is also going down because of the foreclosure tornado. With more and more people being evicted from their houses the demand for rented accommodation has gone up. A [...]

The Cleveland foreclosure crisis is worsening from day to day. The neighbourhoods of the city are dotted with vacant houses, owned by lenders or the banks. Financial bodies now possess more than 11,000 properties in Cuyahoga County according to project reports undertaken by Case Western Reserve University. The numbers account for more than half the [...]

This time the women voters in Clermont County are readying to battle foreclosures. The Clermont County League of Women Voters will be addressing the foreclosure problem during their meeting in May this year. Foreclosures have churned into a national problem during the past few years. In Clermont County during 2006 there had been 2006 foreclosures [...]

Four years ago Ellen Scrivens had bought a house. She refinanced her loan contracting an interest-only loan but two months later she lost her job and began to falter in her monthly payments. At the time of refinancing the lender had said that the monthly payment of about $2,000 included taxes and insurance. But in [...]

Foreclosures have hit the nation with Ohio being one of its worst targets. It has had its effect on the housing market where the sales have gone down by 16.8% from what it was in the previous year. This is according to the Ohio Association of Realtors. The example of the 10th Senate district can [...]

A recently given Ohio appellate court decision might give the teeth Ohio’s state government requires to halt increasing foreclosures. Last December the attorney general of Ohio, Marc Dann was not successful with 40 foreclosure cases in the state. These could not be dismissed. However the ruling on 7 of these is still pending. Tom Winters, [...]