ForeclosuresPA Blog

Florida's Foreclosure Crisis Could be Diminishing June 27, 2008 7:08PM - No Comments Yet Florida’s housing market is ever so slowly picking up and giving residents hope. Home prices in Michigan are declining even further now that banks are trying to sell off foreclosed properties. In California a new bill has been put together.... [Read More]   U.S. Senate Coming Close to Passing a Foreclosure Law June 26, 2008 7:26PM - No Comments Yet Foreclosures in Maryland are much higher this year than in previous years. The U.S. Senate is closer than they have been all year to passing a law that would help homeowners. Skokie, Illinois is starting to feel the full impact of the foreclosure crisis... [Read More]   Cape Cod Foreclosures At Their Highest Since 1994 June 24, 2008 7:41PM - No Comments Yet Rhode Island lawmakers are getting a bill together that would mandate lenders to pay property tax on their properties. The U.S. senate got much closer to accepting a bill that would help homeowners. Foreclosures in Cape Cod have reached all-time highs.... [Read More]   Connecticut Attorney General Tires to Postpone Foreclosures June 20, 2008 2:32PM - No Comments Yet Connecticut’s state attorney is persuading judges to postpone foreclosures. Local initiatives in Florida who are counseling homeowners will be obtaining more funding. In New York the Governor and leaders of State Legislation have proposed a new law.... [Read More]   The New York Court System Tried To Solve the Foreclosure Crisis June 19, 2008 6:44PM - No Comments Yet Washington D.C has had a major increase in foreclosures over the last couple of months. A new law has been passed in Connecticut and will take affect on July 1st. The New York court system is creating a program that will reduce foreclosures.... [Read More]   Foreclosure Rates In Tennessee Fall For The First Time This Year June 18, 2008 12:09PM - No Comments Yet Congress is looking to spend billions of dollars all over the U.S. to buy foreclosed homes and remodel them. Congress is also coming together to try and help Ohio with their foreclosure crisis as Tennessee sees mixed number in foreclosure rates.... [Read More]   New York's Foreclosure Rate Slows June 17, 2008 7:16PM - No Comments Yet In O’Fallon, Illinois foreclosed homes were not included when the county approved higher property taxes. Foreclosures in New York have slowly declined over the last two months. Texas looks as if it will surpass last years total foreclosure amounts.... [Read More]   Foreclosure Lull in Massachusetts is Temporary June 16, 2008 7:45PM - No Comments Yet Foreclosures in Massachusetts seem to have plummeted to very low levels; this is a temporary lull due to a new law that was passed in May. Many counties in Texas are seeing some good news as well as bad news this month. The U.S. economy is in bad shape.... [Read More]   Housing Crisis Escalates all Over the U.S. in May June 13, 2008 6:30PM - No Comments Yet California’s foreclosure numbers for May are giving people a small spark of hope that the crisis might be subsiding. The housing crisis rose further last month all over the U.S. Washington had twice as many foreclosures in May.... [Read More]   Lawmakers In Virginia Devise a Plan to Sell Foreclosed Homes June 12, 2008 3:43PM - No Comments Yet California’s home foreclosures went up 400 percent from 2006 to 2007. Half of the homes on Hilltop Lane, Texas are in foreclosure and are hurting nearby homeowners. Virginian lawmakers are coming together to try and formulate a plan to sell foreclosures.... [Read More]   Non-Profit Organization Plants Food On Vacant Bank Owned Farms June 11, 2008 2:00PM - No Comments Yet Mississippi Governor Haley Barbour hosted the Mississippi Summit on foreclosures this week. Wisconsin’s rising foreclosures have no end in sight. Wayne County, Michigan has been hit especially hard by the mortgage crisis.... [Read More]   Massachusetts Foreclosures Drop Dramatically June 10, 2008 7:35PM - No Comments Yet The U.S.’s mortgage market is not doing very well and seems to be getting worse. Illinois has fared much better than many other states in regards to the foreclosure crisis Massachusetts foreclosures have dramatically decreased in the last month.... [Read More]   Homeowners are Forced to Rent Homes Because they Cannot Sell Them June 9, 2008 6:42PM - No Comments Yet In Missouri Senator Clair McCaskill held a clinic to help homeowners in need. All around the U.S. there seem to be more homes renting than homes being purchased. In California foreclosures have dropped slightly over the last couple of months.... [Read More]   New Homes effected by the Foreclosure Surge June 4, 2008 6:47PM - No Comments Yet New home builders are facing a slump due to the glut of foreclosures hitting the market as lawmakers take another stab at stemming the growing foreclosures numbers.... [Read More]   Loan Servicers In Virginia Work to Lower Foreclosure Rates May 29, 2008 6:44PM - No Comments Yet In Virginia loan servicing companies are increasing their “workouts” for homeowners who are facing foreclosure. Massachusetts home prices are at all time lows. Florida’s Coral Springs officials have been mulling over a new law for vacant homes.... [Read More]   Fannie Mae Pays Counseling Fees for Struggling Homeowners May 28, 2008 7:17PM - No Comments Yet The number of months it’s going to take to deplete the supply of homes in California’s market has dropped to 9.2. There is predicted to be an 11% reduction in market values in Minnesota. The U.S.’s Fannie Mae has a program that pays counseling fees.... [Read More]   State Senate in New York is Urged to Help Foreclosure Victims. May 22, 2008 5:02PM - No Comments Yet Nevada, once again, leads the U.S. in foreclosures in April. Community activist in New York are calling for a moratorium to postpone foreclosures. Foreclosures are expected to increase by 1,300 over last years numbers.... [Read More]   Abandoned Foreclosed Homes Causing the West Nile Virus May 16, 2008 5:37PM - No Comments Yet There are thousands of abandoned homes in Virginia that need lawn trimming. The foreclosure crisis is causing a new health hazard across the U.S. Washington’s Fannie Mae is dropping their down payment requirements for borrowers.... [Read More]   Housing Crisis Take a Toll on Homeowners Mental Health May 15, 2008 4:53PM - No Comments Yet Florida’s foreclosures are still on the rise but the state has been surpassed by Arizona. The number of foreclosures is Louisville, Kentucky dropped 48 percent last month. The U.S.’s current housing crisis is taking a toll on our society’s mental health.... [Read More]   Bank Seizures Have Doubled In The U.S. May 14, 2008 1:13PM - No Comments Yet U.S foreclosure filings climbed 65% and seizures more than doubled in April. Plymouth County, Massachusetts foreclosures are slowly rising each month. San Bernardino and Riverside counties in California are number two in the nation for foreclosures.... [Read More]   REO Properties Account For 34% Of California's Home Sales May 13, 2008 7:59PM - No Comments Yet A state Senate committee has taken up the foreclosure crisis in New York State. Foreclosures in Minnesota, are taking a toll on many kids. California’s REO properties are beginning to increase dramatically from month to month.... [Read More]   New Mexico Receives a $248,500 grant May 9, 2008 5:58PM - No Comments Yet Colorado is blaming the foreclosure wave on predatory lending. New Mexico is putting together a public awareness campaign. Alameda, California is expanding an existing program that was created to help first time homeowners prevent foreclosure.... [Read More]   Arizona's Foreclosures Increased By 430 Percent May 8, 2008 2:43PM - No Comments Yet Renters all over the U.S. are suffering just as much as homeowners. Foreclosures in some areas of Arizona are seeing dramatic increases in foreclosures. Members of the New York State Assembly passed a legislative package that will delay foreclosure.... [Read More]   Michigan Senators Propose Three-Bill Plan May 7, 2008 1:06PM - No Comments Yet The Federal Reserve chairman has been pushing for more efforts from the federal government. Massachusetts housing market is declining and auctions make the dream of owning a home possible. Three Michigan state senators proposed a new three-bill package.... [Read More]   Houses of Worship Come Together in Connecticut May 6, 2008 7:08PM - No Comments Yet The Senate approved a new plan in Minnesota this week. Baptist churches of Connecticut are getting together and helping families who are facing foreclosure. Vacant homes are still a big issue in many parts of California.... [Read More]   Foreclosed Homes In Georgia Auctioned for $1,000 May 5, 2008 8:10PM - No Comments Yet Georgia is one of the only places where you can find a $100,000 home with a starting auction price of $1,000. In Arizona non-profit housing counselors are bombarded with phone calls. Indiana has had more foreclosed homes sold at auctions in 2008.... [Read More]   Lenders May Be Fined $1,000 Per Day For Vacant Homes May 2, 2008 7:30PM - No Comments Yet The pace of the housing rescue efforts in the U.S. has slowed. Florida still remains one of the countries leaders in foreclosure. Homeowners in California who are tired of seeing rundown vacant homes may get help from a new legislation.... [Read More]   2.9 Percent of U.S. Homes Are Vacant May 1, 2008 7:40PM - No Comments Yet New research shows that home vacancy rates in the U.S. reached record highs. The foreclosure rates in Utah have jumped drastically in the first quarter of this year. Philadelphia grows tired of waiting on Congress to make a move to slow down foreclosures... [Read More]   Ex-Homeowners Trash Foreclosed Homes April 30, 2008 2:27PM - No Comments Yet Missouri’s home prices are down and foreclosures are up. In Massachusetts the rising number of foreclosures is putting added pressure on the real estate market. Around the U.S. homeowner who go into foreclosure are trashing their homes before vacating.... [Read More]   Tens of Thousands of Californians Lose Their Homes April 28, 2008 7:27PM - No Comments Yet A fair was held in North Carolina to help those in danger of foreclosure. Thousands of Californians lost their homes due to foreclosure and the numbers are expected to rise. Families in Indiana are turning to the Indiana Foreclosure Prevention Network.... [Read More]   Homeowners Protest In Florida April 25, 2008 2:54PM - No Comments Yet Massachusetts City Council wants to develop a plan to address their housing crisis. In Florida about two dozen people who have had their homes foreclosed upon protested. Renters in Nevada are often being forgotten throughout the foreclosure crisis.... [Read More]   6.5 Million Loans May Be Foreclosed Upon By The End Of 2012 April 24, 2008 6:40PM - No Comments Yet Mortgage lenders in North Carolina are doing more to help borrowers keep their homes as lenders in California send a total of 1,392 foreclosure notices to Sanoma County. Falling home prices in the U.S. may result in large amounts of foreclosures.... [Read More]   Wisconsin Lenders Meet With Homeowners At Risk of Foreclosures April 22, 2008 4:59PM - No Comments Yet Milwaukee lenders meet with homeowners to try and prevent foreclosures while Nevada, California and Arizona remain the top three states with the most foreclosure. State and officials recommends foreclosures counseling for homeowners hit by foreclosures.... [Read More]   Angry Homeowners Set Their Homes On Fire April 21, 2008 3:37PM - No Comments Yet A Florida task force has put together some recommendations to help the foreclosure crisis. Many homeowners in Arizona have been sending in their keys instead of paying their mortgage and angry Californian homeowners are setting fire to their homes due to... [Read More]   Foreclosures In Texas Are Currently Much Lower Than the Same Time Last Year April 18, 2008 5:48PM - No Comments Yet Many U.S. states are suffering due to the foreclosure crisis, they were expecting the federal government to come to their aid but those chances seem small. Both Illinois and Texas are doing much better than most states when it comes to foreclosures.... [Read More]   Philadelphia Comes Up With a New Strategy to Fight Foreclosures April 17, 2008 7:50PM - No Comments Yet New Hampshire neighborhoods are filled with for sale signs; some have been up for month others just a few days. Alabama saw a decrease in foreclosure activity; meanwhile Philadelphia comes up with a plan to help homeowners in danger of foreclosure.... [Read More]   Massachusetts Receives a $50,000 Grant April 16, 2008 2:20PM - No Comments Yet Foreclosure activity continues to climb in California. Meanwhile, Massachusetts receives a $50,000 grant from the states Division of Housing and renters in New York face eviction due to foreclosures.... [Read More]   Foreclosed Homes In Ohio Are Sold For $1 April 15, 2008 1:55PM - No Comments Yet Minnesota will fight foreclosures by creating more tools for homeowners. In Ohio, Loveland’s City Council gave the City Manager permission to buy foreclosed homes. Florida's foreclosures decreased from February to March but are increasing again.... [Read More]   Foreclosures Are Being Blamed For Increasing Crime April 14, 2008 2:11PM - No Comments Yet Bus tours are very popular in Nebraska, both first time buyers and investors are participating. Vacant homes in California are attracting crime and in Oregon cities are complaining about unsightly abandoned homes that need to be cared for.... [Read More]   California's Foreclosure Totals Dropped In March April 11, 2008 3:31PM - No Comments Yet Foreclosures in California, decreased for the first time this year. In Oregon both foreclosures and short sales are significantly bringing down home values. A new bill was passed by the senate in Virginia that will aid service members stay out of foreclo... [Read More]   Six Men Responsible For Nearly 300 Foreclosures April 10, 2008 6:26PM - No Comments Yet Bus tours in Pennsylvania are becoming increasingly popular. In North Carolina, 4,000 notices of trustee sales were recorded in Maricopa County in March and in Indiana six men caused nearly 300 Indianapolis foreclosures.... [Read More]   Montana's Foreclosures Remain Surprisingly Low April 9, 2008 4:41PM - No Comments Yet Loan defaults in Idaho are on the rise and the rates are much higher than previous years. Montana, on the other hand, has been able to keep the foreclosure crisis at bay. Pets in Indiana are increasingly becoming victims of the foreclosure crisis.... [Read More]   Landlords Are Reducing Rents Due to Foreclosure Crisis April 8, 2008 6:17PM - No Comments Yet El Paso County has seen a dramatic rise in foreclosures over the last few years, while in Ohio lenders have agreed to abide by new policies. California landlords are forced to leave units vacant due to foreclosure crisis.... [Read More]   Lawrence Community Works Plans To Buy Homes And Rent Them To Owners April 7, 2008 6:04PM - No Comments Yet A Massachusetts community group has thought up a plan to help homeowners who face foreclosure. Ohio communities have also devised a strategy to help homeowners who are facing foreclosure. Californians have seen a link between crime and foreclosure rates.... [Read More]   Government Crosses The Line With Proposed Bills April 4, 2008 5:20PM - No Comments Yet Three bills proposed in Massachusetts are looked upon in a negative light, while in West Palm Beach Florida, a new foreclosure assistance program is opening. El Paso county, Connecticut has hit another record high foreclosure.... [Read More]   Massachusetts Senators Have Signed Onto A State Legislation April 3, 2008 7:07PM - No Comments Yet Thurston Count in Washington and Hawaii have both seen major increases in foreclosure rates within the last year and see no let up in sight. Massachusetts senators are ready to try and get a hold of the foreclosure crisis and put an end to it.... [Read More]   Home Sales In Grand Rapids Consist of Over 50 Percent Foreclosures March 28, 2008 7:42PM - No Comments Yet In Grand Rapids, Michigan foreclosures are having a huge impact on the local housing market and in Arizona a special workshop will be held for homeowners in danger of foreclosure. New York’s number one cause for foreclosures are sup-prime mortgages.... [Read More]   Utahs Has Not Been Impacted By The Foreclosure Crisis March 27, 2008 3:50PM - No Comments Yet In Ohio dozens of homeowners have been referred to free lawyers to avoid foreclosure while in Georgia they have received a $887,000 grant to fight foreclosures. On the other hand, Utah’s economy is doing very well compared to the rest of the country.... [Read More]   Hillary Clinton Proposes A $30 Billion Grant to Battle Foreclosures March 26, 2008 1:40PM - No Comments Yet Hilary Clinton outlined a $30 billion proposal in a speech on Monday to battle foreclosures. Maryland and California’s foreclosures are skyrocketing and bank owned homes are being sold in Monterey County, California.... [Read More]   Estimated That 356,000 Foreclosures Will Occur In California March 25, 2008 5:27PM - No Comments Yet Sub-prime mortgages are the number one leading cause of foreclosures in California. Foreclosures are now affecting not only homeowners but their pets as well. In Massachusetts new bills have been introduced to help lower foreclosure rates.... [Read More]   Foreclosures Up 300 Percent In Some Areas March 24, 2008 6:18PM - No Comments Yet In Tippecanoe County, Indiana housing resale values are among the lowest in the country while in California foreclosures have increased and in Illinois pre-foreclosure training may become mandatory.... [Read More]   California Wants To Purchase, Fix And Resell Homes As Affordable Housing March 21, 2008 7:08PM - No Comments Yet A poll done in Illinois shows that revenues are falling because of foreclosures while in California they are trying to buy abandoned homes for resell. Texas's foreclosures keep rising from month to month with no let up in sight.... [Read More]   Abandoned Foreclosed Homes Will Be Demolished March 20, 2008 6:35PM - No Comments Yet In Texas many people are arguing that our foreclosure crisis should be resolved by now while in Minnesota foreclosure rates are souring. In California foreclosed homes are bringing crime to its neighborhoods.... [Read More]   2 Million Gallons of Water Pumped Through Foreclosed Homes March 19, 2008 6:02PM - No Comments Yet Minnesota's homeowners are noticing more abandoned homes in their neighborhoods due to foreclosures. Colorado and Michigan have both received grants in order to try and prevent homeowners from going into foreclosure.... [Read More]   Investors Are Now Taking Bus Tours Of Foreclosed Homes March 18, 2008 7:59PM - No Comments Yet Minnesota’s foreclosure rates are no longer believed to be related to sub prime mortgages, while foreclosures in North Dakota are directly linked to them. There are so many foreclosed homes in Florida that investors are now taking bus tours to view them.... [Read More]   March 18, 2008 7:53PM - No Comments Yet ... [Read More]   New Plan May Insure $300 Billion In Loans March 17, 2008 7:53PM - No Comments Yet Congress has proposed a new plan to help the foreclosure crisis in California and Ohio is also trying to fight the battle against foreclosure in their own way. Minnesota's foreclosure rates seem have more than one cause.... [Read More]   Rhode Island Seeks $10 Federal Loan March 14, 2008 5:03PM - No Comments Yet Nevada remains number one in the U.S. for the most foreclosures with California right behind them. Boston, Massachusetts offers free help to homeowners while Rhode Island seeks $10 million.... [Read More]   Foreclosure Rates Leveling Off In Some Areas March 13, 2008 4:46PM - No Comments Yet California and Maryland foreclosures rates are still on the rise and are much higher than this time last year. On the other hand, Illinois is seeing a slight drop in foreclosures in some areas.... [Read More]   3 Million Foreclosures predicted by the end of 2008 March 12, 2008 5:10PM - No Comments Yet Officials in Ohio are using the media to help bring foreclosure help information to the growing number of people falling behind in their mortgages but it may come to late as 3 million foreclosures are predicted to occur by the end of 2008.... [Read More]   New Act Aids in the Foreclosure Battle with $10 Billion March 11, 2008 6:13PM - No Comments Yet Michigan is trying to help their homeowners in need by creating a workshop that will help them manage their money and home. Meanwhile, Californians in San Francisco are getting together to try and come up with a plan to fight foreclosure while a new act... [Read More]   Owning a Home is Becoming an American Nightmare March 10, 2008 7:11PM - No Comments Yet Oakland County in Michigan is seeing a downturn in foreclosures while California's homeowners are evicted by the dozens. Minnesota predicts that about 30,000 homes will have been foreclosed within the next couple of years.... [Read More]   Renters get a hand from the Utilities Committee in California. March 7, 2008 2:58PM - No Comments Yet Florida gets a 1.3 million dollar grant to aid in the foreclosure counseling as Oakland, California takes measures to prevent illegal utility shut offs by banks trying to evict tenants in foreclosed buildings.... [Read More]   6% of all Mortgages Nationwide are Delinquent March 6, 2008 4:37PM - No Comments Yet Smaller areas in Michigan and Arizona are feeling the same effects as the rest of the country as foreclosures continue to rise. Builders of new homes in places like New York and Arizona are cutting their prices.... [Read More]   Suburbs now feeling the foreclosure crunch. March 5, 2008 7:48PM - No Comments Yet The Federal Reserve Chairman is encouraging lender's to reduce the principal amount on thousands of loans facing foreclosure as surburban areas feel the forelcosure crunch.... [Read More]   Federal Reserve Chairman urges Lenders to Restructure Loans March 4, 2008 2:13PM - No Comments Yet As rates in Atlanta climb, the Federal Reserve Chairman urged lenders to reduce the principal on loans where the home are not worth the loan amount.... [Read More]   Florida seeing higher percentage of short sales. February 29, 2008 5:39PM - No Comments Yet As lawmakers fight over how to handle the foreclosure crises, homeowners in Florida facing foreclosure, are hoping short sales will catch the eyes of homebuyers.... [Read More]   California foreclosure soar as Republicans attempt to block reform bill. February 28, 2008 8:06PM - No Comments Yet In Washington the Democrats and Republicans go head to head over the foreclosures crises, each looking at a different way to help struggling homeowners. Iowa is seeing some relief in the form of Federal funding but there is no relief in site in Californ... [Read More]   Foreclosure Prevention act faces Bush Veto February 27, 2008 7:50PM - No Comments Yet The Foreclosure Prevention act faces strong opposition by the Senate and a possible Veto by the President as the housing slump pushes the number of home sales to the lowest in 13 years.... [Read More]   Congress passes Foreclosure Prevention Act of 2008 February 26, 2008 5:47PM - No Comments Yet While Nevada has the highest number of foreclosures in the entire nation, Michigan saw a slight decrease. Congress has passed the Foreclosure Prevention Act of 2008. The bill is now in the senate for review and its fate will be decided in the next few d... [Read More]   One million or more homes may default in the next two years. February 26, 2008 12:23AM - No Comments Yet Analysts in Washington fear we are in the clutches of a mortgage crises not seen since the Great Depression. As cities fight to prevent vacant homes from vandalism and arson, the number of foreclosures in Massachusetts continues to rise.... [Read More]   Judges gain power over mortgage portfolios in bankruptcy cases February 22, 2008 5:10PM - No Comments Yet Budget shortfalls in Florida increase the problems as the foreclosures soar. The state is facing courthouse closures for weeks, where no foreclosures hearings can take place. Lenders are up in arms over a bill to increase the power of bankruptcy judge.... [Read More]   Foreclosures continue to rise as Washington D.C. puts plans into motion. February 21, 2008 5:50PM - No Comments Yet In the Nation's capitol several plans are in motion to help stem the foreclosure tidal wave while the number of foreclosures surge in Massachusetts, revealing the highest one month figure since August of 2007.... [Read More]   Lawmakers are passing new legislations to help homeowners. February 20, 2008 9:36PM - No Comments Yet Community groups call upon Countrywide and Bank of America to help rebuild the American Dream. Florida lawmakers enact legislation to help homeowners stay out of foreclosure. Maryland lawmakers pass emergency legislation to help those at risk.... [Read More]   Renters are left with fewer choices as homeowners face foreclosure. February 7, 2008 2:08PM - No Comments Yet As nonprofits attempt to help homewoners deal with foreclosures, renters whose homes are in foreclosure, have few resources and are left with even fewer choices.... [Read More]   Mortgage rates rise as legislators struggle with lending reforms February 6, 2008 5:09PM - No Comments Yet Maryland's Govenor proposed new leglislation in lending practices but has heated up a debate between legislators and lobbyists about the scope of the bills. Mortage rates are still high even after the cut in short term rates.... [Read More]   GMAC's unsecured rating falls lower in to February 5, 2008 5:10PM - No Comments Yet GMAC's support of Residential Capitols failing mortgage comes drives its unsecured rating deeper into junk territory. The House passed a bill to increase the cap on conforming loan limits as banks make tighten their qualifications on prime mortgages.... [Read More]   Foreclosure trend predicted to continue for two more years February 4, 2008 8:16PM - No Comments Yet As states struggle to provide services for homeowners facing foreclosures the experts predict it could continue for the next two years. Even areas supported by agriculture are feeling the foreclosure crunch.... [Read More]   More New Proposed Foreclosure Legislation February 1, 2008 7:00PM - No Comments Yet Seems like everyone has a new solution to the so-called foreclosure crisis. But, very little of the new legislation is getting passed due to political in-fighting. For every new idea there is always an opposing group that blocks passage of a new Bill.... [Read More]   Foreclosure rates a political hot button January 31, 2008 8:14PM - No Comments Yet Foreclosure rates will continue to be substantially higher for the next two years as Democrats propose the government purchase failing mortgages and help troubled homeowners.... [Read More]   Effects of 2007 on 2008 January 18, 2008 5:11PM - No Comments Yet Based on the foreclosure statistics of 2007 it is quite possible that the lending industry is unable to offer help to all of its borrowers. This is causing need for federal action... [Read More]   Michigan Notices Secondary Causes for Foreclosures January 17, 2008 6:58PM - 1 comment The speculation is that the higher cost of gasoline and heating fuel may have been the cause of some homeowners that were just barely hanging on, to default on their mortgages.... [Read More]   Legislators, Government and Lenders Work with Homeowners January 16, 2008 7:57PM - No Comments Yet A plan that attacks a variety of problems while offering some relief to homeowners and placing more responsibility on the lending industry. The plan would have long term benefits as well for the homeowners that have subprime loans resetting in two years... [Read More]   Politicians Get Involved In Foreclosures January 15, 2008 1:26PM - No Comments Yet In response to the housing crisis, Congressman Phil Hare has called for a moratorium on home foreclosures. Congress is expected to consider action on the subprime mortgage crisis... [Read More]   Are Foreclosures All Bad? January 14, 2008 10:34PM - No Comments Yet The down market might just be the opening that some need to be able to buy a home, for others it is a way to lose it.... [Read More]   City Leaders Hold Lenders Responsible for Foreclosures January 11, 2008 3:03PM - No Comments Yet Baltimore leaders have decided to hold one subprime lender responsible, Wells Fargo. They claim that the foreclosures have cost the city millions in lost property taxes and public investment. They claim that the company discriminated against black borrow... [Read More]   Actions of 2007 Lead to More in 2008 January 3, 2008 4:32PM - No Comments Yet Basically what happened in 2007 was, several plans were announced to help borrowers by preventing increases in payments. The Federal Housing Administration said it would help refinance loans and the federal government passed a law specifically addressing... [Read More]   Arizona and Ohio Struggle December 20, 2007 7:30PM - No Comments Yet Arizona Governor constructed a plan to help Arizona homeowners facing the rate changes of their mortgage. The plan offers information and contacts to help avoid foreclosures... [Read More]   Foreclosures Stunt Economic Growth December 19, 2007 3:04PM - No Comments Yet In response, Treasury Secretary Henry Paulson began a 3 city tour defending the administrations foreclosure plan. And Governor Arnold Schwarzenegger... [Read More]   Holiday Break for Foreclosures? December 18, 2007 7:28PM - No Comments Yet Cuyahoga County in Ohio is granting a Christmas present to families facing foreclosure. Local non profits are pushing the local sherriff... [Read More]   Greenspan Fears Foreclosures Outweigh Future Benefits December 17, 2007 6:12PM - No Comments Yet Mr. Greenspan did an interview with “This Week” on ABC. He felt that the fiscal problems caused by foreclosures might outweigh any benefit, that may come in the future, for the economy ... [Read More]   Law Makers May Implement Depression Era Program to Help Homeowners December 14, 2007 6:54PM - No Comments Yet Law makers are discussing a depression-era program to help millions keep their homes. The program will replace the current adjustable rate mortgages that are resetting with a government-backed... [Read More]   Minnesota Board Makes Motion to Help Renters December 13, 2007 4:26PM - No Comments Yet Minnesota moved to boost resources to help renters stay in a foreclosed home as long as possible and counsel them... [Read More]   Committee Aproves Legislation to Help Bankrupt Homeowners December 13, 2007 2:34AM - No Comments Yet The House Judiciary Committee approved legislation to keep bankrupt homeowners from losing their homes and aims to limit foreclosures in the current crises... [Read More]   Freddie Mac Reports Huge Loss December 11, 2007 7:58PM - No Comments Yet In the 3rd quarter of this year, Freddie Mac reported a $2 Billion dollar loss. Freddie Mac is taking steps to shore up capitol... [Read More]   Lenders Jumping on Loan Restructuring Bandwagon December 10, 2007 7:55PM - No Comments Yet The plan to freeze some adjustable rate mortgages has left many scratching their heads. Questions of cost and who exactly qualifies are among the many that still plague the bill... [Read More]   Hillary Clinton Proposes Solutions to Mounting Foreclosures December 7, 2007 5:51PM - No Comments Yet Hillary Clinton called on Wall Street to take some responsibility for the mounting foreclosure rates. She proposed several steps to help stop the numbers from rising... [Read More]   Mortgage Investors and Servicers Bend to New Guidlines December 6, 2007 7:29PM - No Comments Yet Mortgage investors and servicers have agreed to streamlined guidelines for loan modifications and refinancing. The current method could not keep pace... [Read More]   No More Sub-Prime Loans for Massachusetts Homeowners December 6, 2007 11:11AM - No Comments Yet Massachusetts homeowners have to seek lenders outside of the state for subprime loans. All but two lenders who offer... [Read More]   Hilary Proposes Solution to Foreclosure Rates December 6, 2007 10:23AM - No Comments Yet Hilary Clinton proposed a 90 day moratorium on home foreclosures to give the borrowers a chance... [Read More]   ARMs Aren't the Only Problem for High Foreclosure Rates December 3, 2007 4:25PM - No Comments Yet The high number of foreclosures in Illinois has another culprit other than adjusting mortgage rates. Detectives have filed charges against a former mortgage broker... [Read More]   Lenders Jump on Short Sale Band Wagon November 30, 2007 8:22PM - No Comments Yet An anti-predatory lending proposal is among the items being visited by a special legislative session of the California Assembly... [Read More]   Foreclosures Affect All November 29, 2007 9:06PM - No Comments Yet If some steps are not taken, even a percentage point off the area’s growth could turn a good year into a subpar one... [Read More]   Lenders and State's Looking for Answers to Foreclosure Crisis November 28, 2007 7:22PM - No Comments Yet Many lenders and state governments are taking steps to solve their foreclosure rates. Michigan held the nation’s, Mayor's Conference... [Read More]   Crisis is Far From Over November 27, 2007 6:54PM - No Comments Yet ARMs and subprime loans are taking on more and more blame for this crisis. According to historical models this means bad news, bringing job loss and debt to the region. Each crisis area has launched programs and is taking action because it is obvious tha... [Read More]   Consumer Groups Demanding Intervention November 26, 2007 7:29PM - No Comments Yet Federal legislation would allow bankruptcy judges to modify repayment terms of home loans on a borrower’s primary residence. It would permit judges to help homeowners by lowering interest rates, extending the life of the loan or forgiving part... [Read More]   Lenders Give Break to Homeowners November 21, 2007 2:08PM - No Comments Yet Four lenders in California are giving a break to homeowners who cannot afford their increasing mortgage payments... [Read More]   More Proof of Crime Linked with Foreclosures November 20, 2007 8:17PM - No Comments Yet In Cleveland, the number of violent crimes seems to keep pace with the number of foreclosures in the working class Slavic Village. Drug dealers and gangs are among the squatters moving into abandoned homes... [Read More]   Courts Crack Down Proof of Ownership From Lenders November 19, 2007 8:40PM - No Comments Yet Federal Court judges in OH gave lenders 30 days to prove that they own the properties they intend to seize in another 27 cases... [Read More]   Bills Passed To Put Strict Requirements On Lenders November 16, 2007 7:17PM - No Comments Yet Two bills have passed the House and are now in the Senates hands to help alleviate the foreclosure crises facing the nation... [Read More]   Courts Plan to Pick Up the Slack with Lenders November 16, 2007 12:33AM - No Comments Yet Secretary of the U.S. Department of Housing and Urban Development is delivering a keynote speech to help homeowners address the prospect of losing their homes to foreclosure and help prospective buyers... [Read More]   Federal and State Governments Push for New Standards November 8, 2007 7:51PM - No Comments Yet The Federal Reserve Chairman feels that the housing slump along with other economic problems will cause a slow down in business growth. With no immediate decision to cut... [Read More]   Study Links Crime Rate with Foreclosures November 7, 2007 8:21PM - No Comments Yet A Louisiana based community group has done a study linking the rise in violent crime to the rise foreclosed homes. The study maintains that the foreclosures affect the neighborhoods as well as the homeowner... [Read More]   Millions Spent on Abandoned Homes November 6, 2007 8:23PM - No Comments Yet Lender practices come under scrutiny as the number of homes defaulting continues to rise. Fears that servicing companies are profiting as homeowners lose their homes lead bankruptcy specialists to question whether or not these companies are complying... [Read More]   Colorado and New Hampshire Following Foreclosure Trend November 5, 2007 7:53PM - No Comments Yet Several neighborhoods face decline in the prices, as more homes face the reset of their mortgages, many homeowners are finding their homes are worth less than the original purchase price ... [Read More]   New York Launchs Effort to Combat Foreclosures November 2, 2007 5:37PM - No Comments Yet The boroughs of New York City, also caught in the foreclosure increase have community leaders launching a \"Save our homes\" campaign to combat the increasing numbers. Clergy members will... [Read More]   Lowered Interest Rates Cause Lender Concern November 1, 2007 6:52PM - No Comments Yet Interest rates were lowered by a quarter of a point in an effort to motivate the economy and help relieve the growing foreclosure concerns.... [Read More]