Controlling Foreclosures: A Key to Recession

December 29th, 2008

The number of foreclosures has increased in staggering proportions since last year, with figures almost doubling in the last few months. 2007 registered 1.5 million foreclosures proceedings. This figure was almost matched during the first 6 months of 2008. If this trend goes on, more families will lose their homes to foreclosures during the next two years. The Federal Deposit Insurance Corporation (FDIC) estimates this figure between 4 to 5 [...]

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Paulson Explains Change in Foreclosure Fund Spending

December 22nd, 2008

In a prepared statement to be delivered at the U.S. House Financial Services Committee hearing on Tuesday, Treasury Secretary Henry Paulson said the Troubled Asset Relief Program (TARP) was not intended to be an economic recovery and stimulus package. He said that the $700 billion TARP was meant to stabilize the country's financial

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Deceptive Mortgage Ads Eliminated

December 9th, 2008

Mortgage advertisements are to attract property buyers. But what most of the consumers do not know is that there are hidden risks in getting carried away by those

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Additional 32 Foreclosures Filed in Pasco County

December 8th, 2008

On November 4, 2008, residents of Pasco County were alarmed that 32 additional foreclosures were filed on that day. This brings the total of Florida foreclosure filings to over a quarter of a million in the first half of 2008. An estimated 4 million properties are in foreclosure around the

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Advertising Campaign for the Prevention of Foreclosures Reached Over 100 Million Households

December 1st, 2008

Over 100 million households in the United States have been reached by a foreclosure prevention advertising campaign supported by the mortgage industry. The national public service campaign is led by the partnership of Neighborworks America and Ad

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Coping with Weak Economy and Avoiding Foreclosure

November 24th, 2008

If you are not pre-occupied with the news of the poor economy, then you must be focusing all your efforts in trying to avoid losing your home to foreclosure. The funny thing is that you need not look far for you can actually earn extra income by converting some parts of your home into rental

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Beware of Foreclosure Rescue Scams

November 21st, 2008

A lot of foreclosure rescue companies seem to be real. But, hey are actually fraudsters pretending to be foreclosure counselors who take away titles from homeowners facing

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HUD to Lenders: Cut Ike Victims Some Slack

September 19th, 2008

Troubled borrowers who were ravaged by Hurricane Ike will be glad to know that they need not worry about their mortgage problems in the mean time. Instead of thinking of ways to stop foreclosure, these homeowners can focus on recovering from the losses they incurred when the said hurricane passed through their

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Foreclosures in Michigan to See Respite

September 1st, 2008

Senator Carl Levin of Michigan said that many people across the nation have gone through the anxiety that being involved in a foreclosed home would produce. He said that the increase in numbers of foreclosures, including HUD homes, was having an adverse effect on the values of homes, involved in foreclosure or

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Growth of crisis in the UK housing market

June 2nd, 2008

The UK has been hit by a similar housing crisis that it is affecting the US. Specialists have predicted that if the crisis is not stopped at the beginning it could be far worse than the US foreclosure crisis, as the British economy is more reliable on the real estate

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Indian Real Estate Benefiting From US Crisis

May 30th, 2008

The whole crisis in the US is giving hope to India. America is the number one outsourcer of India's IT/ITeS business, and recent reports are showing that due to the cheap labor in India and the economy crisis that has hit the US by the high oil prices and the foreclosures recession, American companies are now moving whole sectors and operations to

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Lobbying affecting resolution of real estate crisis

May 29th, 2008

America is facing one of the biggest real estate foreclosure crisis ever and some have even compared the crisis to the great recession. The auto industry, builders, homeowners, lenders and students got hit by the crisis, and yet no resolution seems to be taken by the government. It looks as if the government is waiting for something to act, and why is that? Elections of

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Auto sales affected by housing crisis and high oil prices

May 28th, 2008

The foreclosure crisis, which includes government foreclosures homes, has affected thousands of homeowners, lenders, builders, as well as students who cannot qualify for student loans due to the high standards posed by mortgage companies. It seems that now its time for the auto industry to be affected by the real estate foreclosure crisis. With banks and auto lenders tightening their loans and worried of getting caught by the recession, hundreds [...]

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Health Risk By Abandoned Homes Rise With Crisis

May 27th, 2008

As a result of the current real estate foreclosure crisis many lenders have repossessed more homes that they could afford, and as a result many homes are abandoned and vacant. The average rate of vacancy in the US is now at 3 percent and the problem is not only affecting lenders but are affecting the health of thousands of neighborhoods across the country. Recent reports show that many vacant homes are presenting health risks including many [...]

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The future of home financing

May 26th, 2008

The current real estate crisis in America is far from over and it is affecting thousands of lenders, neighborhoods, the building industry and especially home owners. But the effects of the crisis are even worse the present problems. Homeowners that are going through foreclosure today will suffer even more in the future by the bad credit, and most of them will have to wait five years to be able to get a new mortgage. The current foreclosure [...]

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4 arrested in San Diego Scam

May 23rd, 2008

San Diego police arrested four people related to a gigantic foreclosed home scam that tricked 400 home owners into paying rents and fees to a San Diego based group. The scam was based on a false foreclosure rescue plan where home owners would pay a fee to the company with the promise of help on getting their homes back, but the company did nothing to prevent the

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Foreclosure Crisis Causing Domestic Violence

May 22nd, 2008

The current mortgage crisis has been already compared to the great depression, and it is affecting thousands of lenders, homeowners, the building industry and even giants of the home industry such as Lowe's and Home Depot. But recent reports had shown that the foreclosure crisis is not only causing people to lose their homes, but also their marriages and their families. The devastation trend starts when the owners cannot afford to their [...]

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Lowe's And Home Depot Hit By Crisis

May 21st, 2008

It was predicted that Home Depot (HD) and Lowe´s (LOW) would get hammered by the housing crisis. But not as hard as they thought. With the rising oil, rising food prices and the real estate foreclosure crisis, customers are not buying at

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Iowa investor banned from making business

May 20th, 2008

John Davis, a Des Moines real estate investor has been banned from making real estate businesses in Iowa. The Polk Country District Court banned Davis from selling, renting, lease or invest on the states real estate

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Waterford Speedbowl Nascar property on Foreclosure Again

May 19th, 2008

According to the state judicial website, the individuals that helped saving the Waterford Speedbowl's ownership group from foreclosure last supper are the ones taking the Speedbowl property to foreclosure auction. Peter Borelli and Rocco Arbitell helped the ownership group, when the Washington Mutual Bank was preparing to put the Speedbowl property 1080 Hartford Road in auction last

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