30 Apr
Posted by Julia Redstone as Foreclosure
The real estate drama on the Texan stage is worth noting for here the bust was much less severe. The houses were used by many across the country as ATMs during the housing boom years. Alyssa Katz, of New York University focusing on housing problems, feels that anyone thinking about how to prevent such drama [...]
27 Apr
Posted by Julia Redstone as Foreclosure
Things have changed since couple of years ago when all one needed was a pulse to ink a housing mortgage contract. Now the heartbeat has to be vigorous and the papers have to be checked twice and three times over. The massive spikes in delinquencies and foreclosure have made the lenders cautious and it seems [...]
Recently the Securities and Exchange Commission filed a civil suit against Goldman Sachs for fraud and this sent its shares tumbling down. The debate has been raging surrounding the mega bank of Wall Street. Did Goldman Sachs violate the law? Or was the step taken by SEC backed by political interests?
Goldman is obliged [...]
24 Apr
Posted by Julia Redstone as Foreclosure
The SEC has taken the first move in bringing fraud charges since the outbreak of the foreclosure crisis. By doing so the message has been sent that other peddlers of similar securities tethered to Wall Street will no longer remain immune from the long arm of the law. All over the country far and wide [...]
22 Apr
Posted by Julia Redstone as Foreclosure
There is no end to the troubles of homeowners – second liens are continuing to haunt them even after they have lost their houses to foreclosure. Jorge is one of the victims. He is a construction worker. He got a threatening letter that for the second loan on the house that he has already lost, [...]
In York County according to notices in York Dispatch there are 268 houses up for sheriff’s sale. Not too long ago that many sales would not have been posted in one year. Thus it is clear that the various programmes initiated by the federal government to help people wiggle out of foreclosure are not working [...]
Anti-government protests are picking up and have become the rage. In Ashland a modest group staged a demonstration focusing not on the government as such but a new target – the bankers and Wall Street. They were angry that the banking lobby had been treated to bailout funds while millions faced foreclosures. The protestors picketed [...]
The Black families are assessing the damage to their wealth and property as the recession ends and a weak recovery starts off.
Earl Butler a resident of the upper middle class neighbourhood of Sunnymead Ranch in Moreno Valley, sits down for an Easter feast surrounded by his family – wife Sehila and two college going children. [...]
13 Apr
Posted by Julia Redstone as Foreclosure
As the recession is receding confidence is slowly returning with consumers starting to spend. Daniel Zilkha is the owner of Sabre Yachts in Maine dealing with manufacturing of sailing and power boats. He said, “This was by far the worst downturn since the luxury tax nearly wiped out the boat builders in the very early [...]
The statistics on bankruptcy is staggering. The last couple of decades have seen a phenomenal increase in the number of those unable to clear their debts. The Congress has recently taken up the matter so that it becomes more difficult to file for bankruptcy.
The recent spate of bankruptcies is due to many reasons.
First and foremost [...]
