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Last weekend Henry Paulson the treasury secretary and former chief of Goldman Sachs Investment gave the perfect exposition of Wall Street of Socialism in the midst of the foreclosure crisis. He said the Bush government would seek the approval of the Congress to bail out the two jumbo mortgage giants Freddie Mac and Fannie Mae. (read the full entry)
At last real help is coming for foreclosed victims – something that should have happened long ago. A non-profit housing group, The Neighbourhood Assistance Corporation of America will be holding a five-day event, ‘Save the Dream of Homeownership’ in Washington, free of cost. It will enable participants to get instant help to avoid foreclosures. (read the full entry)
Nobody is immune from its insatiable appetite. Foreclosures are now reaching to touch the celebrities – the rich and the famous. Many of the rich and famous have had foreclosure notices issued on their fancy properties. Many others had dropped their asking prices in a desperate attempt to sell them. (read the full entry)
Countrywide claims to have a department named ‘Hope’ to help those struggling to stay in their homes. But in reality there is no hope of escape from foreclosures for countrywide clients. The gloomy economy claimed business of foreclosure victims and took away their cars. Finally a foreclosure cloud hung over their house. (read the full entry)
Experts opine that although there is a slowdown in the pace of foreclosures in June. RealtyTrac releases monthly reports on foreclosure figures. In Connecticut there were 1,623 foreclosure cases for June. Compared to June 2007 it marked a decrease by 32%. (read the full entry)
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