16 Jun
Posted by Julia Redstone as Foreclosure
The unemployment statistics released by the Labor Department cast a shadow over talks on recovery. In the private sector it is weak. The data lead to the tanking of the stock market. The figures showed that whatever growth there was came from the hiring of workers by the federal government on a temporary basis. The [...]
15 Jun
Posted by Julia Redstone as Foreclosure
Pine Hill (Central Florida) residents of Orlando are being educated on modification of loans by law students. The region has been badly battered by the foreclosure crisis. The students of Florida A & M University are coming to the rescue.
When Louvon Roberson sought modification from a local firm her house had not gone into foreclosure [...]
14 Jun
Posted by Julia Redstone as Foreclosure
The post crisis era is seeing families from the middle and rich income group worried about teaching the next generation about the value of work. It has not escaped those with low income either. All are seeing the hitherto thought to be strange scenario of adult children returning to parental nests because they cannot find [...]
11 Jun
Posted by Julia Redstone as Foreclosure
These agencies that rate credit are firms. The three important ones are Fitch, Standard & Poor and Moody’s. They rate or judge the value of bonds. They gauge the possibility of debts going into default. These debts are issued by various issuers like corporations and governments. More recently the securtizers have started to issue these [...]
10 Jun
Posted by Julia Redstone as Foreclosure
Land foreclosures are leading to pushing back of prices to the levels of 2003. Banks are aggressive in seizing land from defaulting owners and this is leading to a chain reaction. In Southern Nevada the prices have fallen to the lowest level since the last seven years.
This has been highlighted in the report on the [...]
09 Jun
Posted by Julia Redstone as Foreclosure
Pundits opine that the “economic ice age” in the housing sector will continue unabated. In 2010 3.5 million residential houses across the country will enter the foreclosure zone as the ARMs that had been contracted in 2005 will now reset. Unemployment too is persisting.
In 2009 there had been 2.8 million house owners facing foreclosure. It [...]
Americans are riding a hurdy-gurdy – up today and down tomorrow. But in Freemont what is happening is exceptional. Last April this region humming with activities of immigrants despaired when New United Motor Manufacturing shut down its plant – Nummi. It manufactured Toyotas. It resulted in the loss of over 5,000 jobs in the automobile [...]
The foreclosure crisis would not have been so intense if the borrowers had been properly legally represented. Then they would have had the sling with which to give Goliath a blow; otherwise the odds have been unfair – the mega lenders and the humble borrowers.
Thus at the heart of the jumbo foreclosure crisis is the [...]
03 Jun
Posted by Julia Redstone as Foreclosure
The tax credit benefit has expired on 30th April and there are apprehensions that without this prop the real estate market prices could take another nose dive with demand falling.
Housing prices across the nation stopped falling during the early months of 2009 and in fact started rising by 0.3% since the previous twelve months that [...]
02 Jun
Posted by Julia Redstone as Foreclosure
On the new Volvo car depends the prestige and economy of not only Michigan but the nation. Michigan has witnessed 860,000 jobs vanish in tend years. The maximum took place in 2007. There have been feeble signs of recovery in the auto manufacturing market with General Motors announcing its first profit in a quarter after [...]
