Entries Tagged as 'Foreclosure Victims'

Rajlakshmi Wahid, the mother of disabled Shabena is struggling on two fronts – seeing to her daughter’s needs as well a battling foreclosure. The house has been specially renovated to allow mobility of Shabena’s wheelchair. The door to her room is wide and the chair is made to go up and down the stairs on a rail.

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Foreclosures in Geauga and Lake counties are slowing down but the acute pain continues to remain. The ‘For Sale’ signs are there but much less in numbers than in Cleveland, Cuyahoga County. According to RealtyTrac Ohio ranks among the top ten offending states.

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Although firms are charging heaving fees to assist foreclosure victims to modify loans, the non-profit groups are offering their services for free. The unparalleled increase in number of foreclosures has led to the emergence of an industry that is growing with each passing day.

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District Judge Christopher Connor has delayed the trial against J.P Morgan Chase and Developer Poconos for defrauding over one hundred foreclosure victims. The date has been shifted from February 2009 to June 2009 in the hope of a negotiated settlement. The talks are scheduled to be held under the auspices of retired Judge M. Welsh [...]

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Despite the gloom the hope for the New Year is that there is a lifeboat for those foreclose victims who are about to sink. The gloom is that it is apprehended that there will be another rush of foreclosures in the forthcoming year.
Unemployment is at an all time high, real estate prices have tumbled [...]

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Debt collectors are harassing foreclosure victims. This is the complaint of many. Sometimes they take extreme measures. At times the phone will not stop ringing said a couple. They had refinanced their house but CitiFinancial persisted in demanding $20,000 on their first mortgage.

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Bank of America (BofA) has come up with a plan to bail out foreclosure victims in the Phoenix area. Last summer BofA bought Countrywide, the nation’s largest subprime lender. Recently BofA has suspended foreclosure notices which have been pending against approximately 2,000 homeowners in the Phoenix area.

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Plunging prices are telling on foreclosure victims. When the value of the house drops below the amount of the loan there is no incentive for the borrower to carry on with the mortgage. But if the borrower is the house owner there is an emotional attachment towards the house that is the home. It is not so with the investor who had tried to make money out of the property.

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The new foreclosure victims in South Florida are a motley lot – parrots, fat pigs, horses, snakes and even tarantulas. Foreclosures are increasing and so are incidents of pet surrenders. This time it is not just dogs and cats but also exotic animals.

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