Entries Tagged as 'Foreclosure Crisis'

March 28th, 2008 · No Comments Tags: Foreclosure Crisis

This hasn’t happened in decades. There are more houses coming into the shop to be sold than being sold. In 2007 the sale numbers rose by 4.4% but the to-be-sold rate doubled according to figures released by First American CoreLogic. At the end of the previous year about 2% of all the houses kept as [...]

January 10th, 2008 · No Comments Tags: Foreclosure Crisis

Well Fargo is being charged in court by the Mayor and City Council of Baltimore for being racist in its lending practices by discriminating against blacks. As a result foreclosures have increased. This has negatively impacted on tax collection. Many other municipalities like Cleveland and Buffalo are honing down on lenders for having precipitated this [...]

November 5th, 2007 · No Comments Tags: Foreclosure Crisis

The Federal Reserve has slashed interest to 4.5% on Wednesday 31st October – this being the second cut in 6 weeks. Mid-Michigan consumers are optimistic that this will help the housing market to get back on its rails. The federal funds rate was cut by ¼ of a percentage point. Ben Bernanke, the Federal Chairman [...]

October 26th, 2007 · No Comments Tags: Foreclosure Crisis

The state and city comptrollers of New York together with leaders of ACORN are putting pressure on the mortgage lenders to be more proactive in doing something to close in on the foreclosure tidal wave. Certain points of the crisis have been highlighted to show that all are affected by this tangle. ACORN has released [...]

October 16th, 2007 · 1 Comment Tags: Foreclosure Crisis

There is 55% increase of foreclosures in suburban counties from January to September. In Long Island the increase was more than 60%. It is the same story in 19 other counties of suburban New York, Connecticut and New Jersey. The number of foreclosures is just a fraction of the total mortgages. According to figures released [...]

October 8th, 2007 · No Comments Tags: Foreclosure Crisis

The foreclosure crisis has reached out its tentacles to all sections of the society. It all originated from the sub-prime mortgage market with a mess being made by predatory lending and irresponsible borrower. Teaser rates will little or no down payments lured borrowers dreaming about owning houses, into the net of floating interest rates. As [...]

September 20th, 2007 · 1 Comment Tags: Foreclosure Crisis

The number of citizens affected by foreclosures has doubled since the previous year. This is according to an August survey. More are finding their interest rates rising to unmanageable proportions. With the decline in the housing sector the economic growth of USA is becoming slow. More than hundred mortgage jumbo companies have gone into the [...]

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