05 Jan
Posted by Julia Redstone as Foreclosures
A group of activists tried to contact bank officials but when the latter refused to accept the calls their answer was to barrage their gardens with bullhorns together with plastic sharks numbering thousands.
It worked! A nondescript group in Cleveland has now assisted about 12,774 borrowers to ward off foreclosure from 2005. It has stopped [...]
10 Dec
Posted by Julia Redstone as Foreclosures
Non-profit bodies lauded the government for cracking down sternly on lenders and servicers. The government has speeded up efforts to assist the borrowers in avoiding foreclosures. On Monday 30th Nov it kicked off a measure termed – Mortgage Modification Conversion Drive.
On a national scale this measure is trying assist the homeowners from converting the status [...]
30 Nov
Posted by Julia Redstone as Foreclosures
The important point in analyzing the housing crisis is the proportion between loan and value. Generally the sub-prime loans are held to be the prime culprits for having caused the crisis but a good number of pundits have juggled around with the numbers to come to a different conclusion. They contend that the [...]
26 Nov
Posted by Julia Redstone as Foreclosures
As the economy of America falters with increasing foreclosures and unemployment a shadow or parallel economy is emerging. The faster one shrinks the quicker does this other informal economy grow carving out a living for the deprived.
Professor Fredrich Schneider of Johannes Kepler University (Linz at Austria) focuses on economy. He said, “People have less ability [...]
Unemployment and not sub-prime mortgages is pushing up this new wave of foreclosures. House owners generally get 60% of their value from the equity on the property. Surrendering a house to foreclosure indicates the dire financial condition of the family or individual. The situation is poised to worsen with more foreclosure ready to hit the [...]
The Recession in Connecticut is at last over — in theory at least. According to economist Lowell Catlett, the Recession was not a very severe one. Although many are distressed and worried as they had to cut costs and slash budgets, it may be noted that people had come to expect a very high living [...]
27 Oct
Posted by Julia Redstone as Foreclosures
Staggering numbers of foreclosures and layoffs have made company executives the target of hate and this has led to escalation of their security expenses.
Threats of the executives and spending for their protection are nothing something new to the industry and the economy. In bad economic weather this intensifies. Associated Press has reported that Kurt Hellstroem [...]
19 Oct
Posted by Julia Redstone as Foreclosures
Times are indeed very difficult for most Americans. With unemployment at its zenith, the main concern of the people seems how to hold on to their homes. After all, the rate of mortgage default is at an all time high. Foreclosures are common and these foreclosed properties are being put back into the market for [...]
16 Oct
Posted by Julia Redstone as Foreclosures
With finances and real estate in shambles and the economy in recession the knock of the debt collector seems to have become a common fear. Unemployment and foreclosures are added causes. Even without these common external factors the debt collector might pop up at any home undergoing financial hardships. Hence it is imperative that the [...]
In some regions across USA August indicated signs of a limping recovery. In these places unemployment rates dipped slightly and so too did foreclosures according to Associated Press. It reported its monthly findings of economic stress carried out on over 3,100 USA counties.
On an average the score fell modestly and less number of counties came [...]
