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Foreclosure: Many Ashamed About Impending Foreclosures
2008-05-07 14:48:00
Four years ago Ellen Scrivens had bought a house. She refinanced her loan contracting an interest-only loan but two months later she lost her job and began to falter in her monthly payments. At the time of refinancing the lender had said that the monthly payment of about $2,000 included taxes and insurance. But in ...
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Foreclosures Rising In Metro Areas
2008-05-07 14:40:00
During the first quarter foreclosure numbers showed signs of rising in the metro areas. This is in comparison to the figures of the first quarter during the previous year of 2007. Most areas saw double digit and even triple digit rises. There were however few exceptions ? Loudoun County, Manassas, Fairfax and Falls Church. James ...
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Foreclosure Crisis Affecting Children
2008-05-06 15:24:00
According to a recent report, ?The Impact of the Mortgage Crisis on Children ”(http://www.firstfocus.net /pages/3401/) written by Philip Lovell and Julia Isaacs, 2 million American children will be directly affected by the subprime mortgage crisis as the foreclosure crisis swallows up their houses. The report shows that about 504,600 Latino children, 281,200 African American children, and 1.166 ...
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Denver Foreclosures
2008-05-05 15:37:00
Foreclosures increased in Denver seven county metropolitan regions during the first quarter of 2008 but the rate is half of that noted during the same period in 2007. This year there were 7,459 foreclosure postings ? 16% increase from the 6,410 listings during 2007. There is no respite in the pace ? foreclosures are still ...
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Foreclosure Scam Stories
2008-05-05 15:18:00
More and more house owners who were and are victims of foreclosures are coming out with foreclosure scam stories. Many companies came forward with rosy promises of helping to prevent foreclosures but ultimately nothing happens except that the victims find themselves poorer. The story of Chantae Grandsberry of Brooklyn Center is one of many. She was ...
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California Foreclosure Bill
2008-05-01 14:11:00
Trying to slow down the alarming pace of the crisis, the California Senate has given the green signal to a foreclosure bill on Monday. For a month the bill had been tossed around between the parties leading to a stalemate. Now the bill has seen the light of day. According to it, the lender will ...
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Foreclosures Vs. US Troops
2008-04-29 16:58:00
Foreclosures spare none ? not even the brave young, staking their lives for the country abroad. Military and financial aid bodies are commenting that there are an increasing number of troops complaining about their failure to keep pace with mortgages and are facing risk of losing their hearth and homes to foreclosures. US troops are ...
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Help To Foreclosure Victims
2008-04-29 10:59:00
Metro bus driver Eduardo Montesiro was one of the many house owners who crowded in to attend the Watsonville housing symposium held to help foreclosure victims last Saturday. It was organized by credit and mortgage specialists. Attendance was free. Eduardo somehow slipped through the foreclosure net that trapped about 250 house owners in Santa Cruz ...
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Foreclosures Numbers Rising
2008-04-28 15:42:00
Foreclosures are not something that is happening in sanitized court rooms involving reams of paper and signatures. It is something far more realistic than that. With foreclosure numbers rising so is the reek from the filth and stink of foreclosures ? literally. With more and more vacant properties dotting the scene like pox, routine administration ...
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Illinois Foreclosure Scammers
2008-04-28 14:56:00
The story of Dorothy Galbreath and foreclosure scammers is just one of the many dotting the scene ? the stuff out of which novels are woven speaking of the times. Doroth, a bus driver, had been married for long 43 years when death took away her husband. He had built her a house in University ...
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Foreclosure Crisis Positive Role
2008-04-25 14:07:00
Recently NeighborWorks America has granted Family Service Association of Greater Elgin an amount of $123,674 towards housing programmes including counseling. Those hit by foreclosures are being targeted. NeighborWorks has now taken up a positive role in the raging foreclosure crisis. Ann Rodriguez of Consumer Credit Counseling Service of Family Service Association of Greater Elgin Area ...
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Foreclosure Politics
2008-04-24 16:13:00
With foreclosures running at about 20,000 per week, at least 100,000 more families are likely to lose their homes before Congress passes a relief bill. And even then, the measure may fail to stanch the problem unless Congress comes up with something that is significantly better than proposals currently in either chamber. To produce a ...
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Hennepin Sues Foreclosure Scamming Firm
2008-04-23 14:57:00
The Attorney General of Hennepin stated that some consulting firms have been duping foreclosure victims with promises of help. Six firms located outside the state have been charged by Hennepin County District Court. Injunction is being sought to prevent them from continuing with their business in Minnesota while the court proceedings are in progress. In ...
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Foreclosure Victims Turning Violent
2008-04-22 16:29:00
In Marion County the sheriff?s men have had to arrest a foreclosure victim in his eighties when he turned violent when faced with a foreclosure notice. He threatened the Sheriff?s men with a gun! Black Diamond Process Service was being represented by 24 year old Robert McGuinness who went to 3933 N.W. 100th Street around ...
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Foreclosure Alternative Options
2008-04-22 16:16:00
Although tackling the problem of foreclosures is difficult it is not impossible. There are many foreclosure options ? provided one hunts for these. Peter Goodman is an attorney. Since 1992 he has been dabbling in real estate and is keen to help the novice buyer. He has been asked to speak on various on what ...
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Foreclosure Causing Government To Lose Taxes
2008-04-18 14:58:00
The gloomy apprehension is that soon one in 32 house owners in New York will be cursed with foreclosures within two years or so. The story of this debacle started with the taking of sub-prime loans. These large numbers of foreclosures will cause a loss of about $65 billion to the state and local administration. This is according to a report of The Pew Charitable Trusts. Across the county the tax loss will amount to $365 billion. This calculates to New York bearing 18% of the net tax loss. Of all those who own houses in New York nearly 52% will lose $18,334 on the value of their properties. Nationally the figure is 43.5% of house owners having to bear with a median loss of $8,771. The manager of Pew’s, Kil Huh has written a boom ‘Defaulting on the Dream’. He analyses that the focus is on New York because real estate values are astronomical with a high concentration of buildings. Thus more houses are affected when one in the locality suffers foreclosure. According to the surve...
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Foreclosure Hits Rural American
2008-04-17 15:54:00
Only half a dozen turned up at the Merced County court to attend a foreclosure auction. The first property that came up on the list was the Pimentel dairy farm. Janice Pimental and her son Nick were also present on this day that was sad for them. The flashy auctioneer in sunglasses and jeans made the announcements and waited for bids. There were none. The dairy farm had been in operation for more than two decades – it being a family concern. It has now become the property of the local lender. Janice accepted the fate stoically. The Pimental farm is in the luscious Central Valley of California – the famous fruit basket of the country. Today it has the highest number of foreclosure concentrations. Many are situated in rural towns. The foreclosure melt down is changing forever the character of this region. The focus is on what is happening in the big cities but rural America has not been spared. This is the analysis of Housing Assistance Council, a non-profit organization based i...
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Warning To Foreclosures
2008-04-15 15:36:00
Fannie Mae has issued a stern warning to those who are about to walk away from foreclosures. The borrowers will not be able to get loans for a five year stretch through this mortgage body. In extraordinary cases (supported by documents) the number of years will be reduced to three to allow the borrower to ...
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Congress Tries To Help Foreclosure Victims
2008-04-15 14:21:00
The mortgage crisis is going from bad to worse. There are no signs of improvement. The Congress is now proposing a new plan to give support to the many who are facing foreclosures ? the number is nearly 2 million who are going to be affected this year. Governor Sonny Perdue of Georgia is mulling over ...
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Vermont Foreclosure: Trouble Brewing
2008-04-14 17:07:00
Vermont so far seems to have escaped the foreclosure net. But signs of change are in the air. Gradually the number of help seekers are rising ? especially those who have taken sub-prime mortgages from non-local banks. George Mathias of Northeast Kingdom?s Gilman Housing Trust says that they do not advertise help, neither do they ...
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Foreclosure: Democrats Divided Over Foreclosure Issue
2008-04-14 16:43:00
Leaders are focusing on the beleaguered house owners while the Senate members are targeting primary aid to the business community suffering from foreclosures. The Senate managed to pass, with the co-operation of both parties, a bill that is friendly towards the mortgage business. About $25 million has been showered on them by providing for tax ...
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Foreclosure Houses Causes Fire Problems
2008-04-11 14:56:00
Brockton officials are desperately searching for solutions to this foreclosure related problem. As foreclosure spreads like fire so too does the problem of arson. Gail Huff reports from NewsCenter 5?s reports that arson fires are creating unprecedented problems as more and more houses are left eerie and deserted. During the 1990?s many properties were ...
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Pre Foreclosure Sales
2008-04-10 16:52:00
About a third of the planned pre-foreclosure sales have not been able to take off mainly because of the indolent attitude of the servicers of the mortgage companies. This is the report released by a survey. The study, conducted by Campbell Communications took into account 3,000 real estate agents. Their findings showed that on an ...
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Vacant Foreclosure Properties
2008-04-09 14:37:00
The city fathers of Metheun are gearing up to pass a foreclosure registration law. It is an effort to do something about the growing menace of increasing number of abandoned houses. An ordinance will be passed by which the companies foreclosing will have to register with the city authorities and pay $100 as charges. Mayor ...
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Foreclosures Hits Rural American
2008-04-09 14:16:00
Only half a dozen turned up at the Merced County court to attend a foreclosure auction. The first property that came up on the list was the Pimentel dairy farm. Janice Pimental and her son Nick were also present on this day that was sad for them. The flashy auctioneer in sunglasses and jeans made ...
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Ohio House Owners Embattling Foreclosures
2008-04-08 17:16:00
Foreclosures have hit the nation with Ohio being one of its worst targets. It has had its effect on the housing market where the sales have gone down by 16.8% from what it was in the previous year. This is according to the Ohio Association of Realtors. The example of the 10th Senate district can ...
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Foreclosure Story of Wain Family
2008-04-07 15:46:00
It is reads like a story book tale ? except that it is true to life. Rick and Lisa Wain were shocked to find one fine day that their mortgage payment had spiked by $750 per month. They knew of course that their interes-only payment was to go up but they were hoping to refinance. ...
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Ohio Slowing Foreclosures
2008-04-07 15:18:00
A recently given Ohio appellate court decision might give the teeth Ohio?s state government requires to halt increasing foreclosures. Last December the attorney general of Ohio, Marc Dann was not successful with 40 foreclosure cases in the state. These could not be dismissed. However the ruling on 7 of these is still pending. Tom Winters, ...
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Buying Foreclosed Homes
2008-04-04 15:21:00
One has to be brave to think about buying in Las Vegas or Tampa where the real estate market is sliding down from bad to worse. But in other cities there are growing signs of stabilization and one can try to snap up a bargain in foreclosed properties. The best places are Charlotte, Raleigh, Oklahoma, ...
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Avoiding Foreclosures
2008-04-03 16:16:00
A federal grant has been made of $4.3 billion to help 7,000 foreclosure victims in Minnesota. It is the second largest sanctioned in the country related to the present crisis. It will help the state to hire more housing counselors to steer the borrowers through the maze of lender bureaucracy. Governor Tim Pawlenty commented that ...
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