The U.S. Treasury Department has already used billions of dollars from the $700 federal bailout fund called the Troubled Asset Relief Program (TARP) to help banking giants and financial institutions deal with the current financial
Continue Reading: Foreclosures Would Cost More than Keeping People in Their Homes
A $24 billion bailout money proposal by Federal Deposit Insurance Corporation (FDIC) to support 1.5 million struggling borrowers will supposedly prevent foreclosures through modified loans by end of year 2009. It can be recalled that the same proposal was opposed by the Bush Administration and was once again moved last week by FDIC Chairman Sheila
Continue Reading: Democrats: Pro FDIC Loan Plan
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 [...]
Continue Reading: Controlling Foreclosures: A Key to Recession
Due to the burden of mortgages on homes, a lot of Americans are left with the choice of setting their health aside just so they keep their homes from being foreclosed. The weakening economy does not help in the situation a lot with the increasing number of individuals losing their jobs, also losing their health
Continue Reading: Losing Homes to Foreclosure: A Price to Pay for Health?
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
Continue Reading: Paulson Explains Change in Foreclosure Fund Spending
The city of Tampa in Florida will receive a federal grant of $13.6 million to manage foreclosure properties in its area. The said funding aims to purchase and refurbish the recorded 100 abandoned and home foreclosures in West Tampa and Sulphur
Continue Reading: Tampa Officials Announced Plan to Help Solve the Problem in Florida Foreclosures
Middle class families have always survived on their own, without taking anything from the social services offered to the class below them. But as the foreclosure crisis escalates across the country, more and more middle class families and children have been joining lines at free lunch programs, food pantries and community
Continue Reading: Homeless Middle Class Rising Amid Foreclosures
A pre-foreclosure statistical company has announced a staggering 325 percent increase in South Florida foreclosures last October as compared to the same month last year. Statistics show that Miami-Dade County led the pack with 5,886 foreclosures followed by Broward County at 4,099 homes and Palm Beach with 3,05 home
Continue Reading: Florida Reeling From Staggering Increase in Foreclosures
The city of Elgin is set to receive its allocation of $2.16 million from the U.S. Department of Housing and Urban Development to rehabilitate its neighborhoods plagued by home foreclosures and abandoned
Continue Reading: Elgin to Receive $2.16 Million in HUD Foreclosure Funds
Bailing out home foreclosures will only worsen the crisis it is trying to solve, according to Federal Reserve Bank of Boston economist Paul Willen. He said that bailouts will lead to more delinquencies and write-offs and will be more costly to both mortgage banks and
Continue Reading: Bailouts Worsen Foreclosure Crisis, Economist Says
The Federal Insurance Agency (FDIC) guaranteed to share up to 50 percent of losses with mortgage companies which consent to refinance home loans that meet specific requirements. The scheme hopes to prevent an estimated 1.5 million mortgage foreclosure homes, and modify about 2.2 million mortgage
Continue Reading: FDIC’s Foreclosure Prevention Scheme Falls on Deaf Ears
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
Continue Reading: Deceptive Mortgage Ads Eliminated
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
Continue Reading: Additional 32 Foreclosures Filed in Pasco County
Bankers in Lee County praised Governor Charlie Crist's proposed moratorium on Florida
Continue Reading: Bankers Praise Florida Governor’s Proposed Home Foreclosure Moratorium
The ForeclosureConnections.com, an online service that monitors bank repossession activity, reported that the number of default notices for properties in Hampton Roads has increased by 25 percent in October 2008, a rise of 191 percent from 2007 levels. Default notices indicate the start of the foreclosure
Continue Reading: Foreclosure Activity in Virginia Increased by 25 Percent in October
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
Continue Reading: Advertising Campaign for the Prevention of Foreclosures Reached Over 100 Million Households
