News About Government Repo Homes
The foreclosure Crisis has Raised the Issue of Ethical Capitalism
Posted on November 20, 2009
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The recent devastating foreclosure crisis has raised the issue of ethical capitalism. Capitalism has slipped in morality. Since the eruption of the catastrophe the palliatives have concentrated on capital, restructure of the system and equity. These have to be addressed – there is no doubt about that. But it is much [...]
The Aftermath of the Housing Boom Leads to the Horrors of Foreclosures
Posted on November 19, 2009
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Florida is one of the worst foreclosure affected states. The general tendency has been to point the accusing the finger at the borrowers for contracting mortgages well beyond their means. But recent surveys are showing that a nexus between politicians, bureaucracy and financial entities caused the bubble and subsequently the burst. [...]
Foreclosure Climate Leads to Sprouting of Unlicensed Contractors
Posted on November 18, 2009
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The foreclosure climate has led to sprouting of many nefarious doings – one being the activities of unlicensed contractors. One such person has been caught by BSO agents disguised as owner of foreclosed home.
Posed as a father who is buying a house for his daughter, the two of them consulted a [...]
Bill passed by Rhode Island General Assembly to Contain Foreclosures
Posted on November 17, 2009
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Foreclosures have swallowed up as many as 6,000 houses including rented accommodation since 2008 January. There is hope that with the passage of a bill by Rhode Island General Assembly the pace will slow down.
It was a historical session of the assembly that witnessed the passage of a landmark bill. It [...]
The Foreclosure Crisis has Taken a New Turn
Posted on November 16, 2009
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State Attorney Generals, recently empowered by Supreme Court, are filing suits against the big mortgage lenders alleging fraudulent activities. Baulked by the banks adamancy and non-cooperation in taking steps to contain the flood of foreclosures they are now thinking of taking legal action for making these exotic loans and then selling [...]
City Programmes Keeping Abandoned Foreclosed Units in Good Condition
Posted on November 13, 2009
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Right across the country many cities are launching programmes that are able to keep the abandoned foreclosed units in good condition. The code enforcement personnel of the cities armed with the programmes, said that these mandates are going far in keeping a check on crime and the properties in reasonably good [...]
Obama’s Program to Help Homeowners With Foreclosures is Progressing
Posted on November 12, 2009
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The US economy is going through a turbulent phase. Unemployment is at its peak and as people lose jobs, they are faltering on mortgage payments. Hence, foreclosures have become common. The Federal government has come up with a $75 billion scheme to help homeowners. As a part of this program, homeowners [...]
Half Dozen Loans in Half a Dozen Years Could Not Prevent Foreclosure for a Nonagenarian
Posted on November 11, 2009
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Barbara Simonson is a nonagenarian. Even after taking six loans during six years she had to admit defeat to foreclosure. WaMu loans stripped her house worth millions dollars of a good slice of the equity.
For more than 50 years Simonson had resided on a high point with a magnificent view of Puget [...]
Millstone Declaring War on Foreclosed Units
Posted on November 10, 2009
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With the number of foreclosed houses increasing Millstone officials have decided to wage war on this menace. The abandoned units are causing health problems and this has led to the city deciding to pass ordnances.
On 21st October the Township Committee passed the ordnance by a vote of 3:1. The dissenting voice [...]
Hunting For the Best Foreclosure Deal
Posted on November 9, 2009
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Foreclosures are plaguing the country – with half sunk in it and half trying to make a killing out of it. The number of foreclosures is staggering. The story does not end there. A massive number of ARM loans are poised to reset. The end seems to be nowhere near. The situation [...]