As the American real estate market goes through a tailspin, the number of foreclosures peaks. The consequences are there for everyone to see – banks taking over the foreclosed properties and the owners fleeing them. As a result, neighborhoods with vacant houses are a plenty in various counties. Crime is rampant in these neighborhoods. But [...]

The nationwide foreclosures have literally shoved the American people into a debt abyss. Irrespective of the reasons and circumstances, the financial crunch that has gripped the country has not spared the native or the immigrant, young or old, poor or the affluent. America\’s money lenders and brokers have acted the Pied Piper in leading millions [...]

By getting temporary freeze, Philadelphia has bared its fangs and is one up in the battle against foreclosures. The City Council allowed for enforcement of moratorium on house mortgages. The sales scheduled for April auctions were put off, said Curtis Jones, a city council person. He was one of the sponsors for the resolution and [...]

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 [...]