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Foreclosures Causing Swing in Population Numbers

According to the data released by Department of Finance of California State recently the increase of population has been by a below 1% in 2008. It is the slowest pace in over ten years.
Within California State, the county of Santa Cruz has seen on the other hand a modest increase by 1.1% – it being [...]

The Inevitable Link Between the Foreclosure Crisis in America and Dubai Collapse Cannot be Denied

Despite the myth of de-coupling the inevitable link between the financial crisis in America and Dubai collapse cannot be denied. In a global market how can isolation be possible?
Dubai is comparatively lucky that the investors continue to nurse a belief that it will be finally bailed out by its big brother Abu Dhabi. It has [...]

Foreclosure Counseling Funds Poised to Run Dry

It is really bad news. Foreclosure counseling funds are poised to run dry. In South Carolina the state tripped in applying for the funds required for the programme that is offered free to the borrowers who are facing foreclosure problems. This safety net will vanish from January because of this lapse on the part of [...]

Finney Has Been Sentenced for Preying on Foreclosure Victims

George M. Finney was sentenced to be jailed for four years and five months for preying on a foreclosure victim and indulging in mortgage fraud. The victim Rex Baker, sat silently in the courtroom when the federal judge delivered the ruling. He felt somewhat avenged for having his finances ruined when he bought a house.
Baker [...]

Chief of FDIC Plans to Place Her Agency on the Forefront to Battle Foreclosures

The term of the chief of FDIC Sheila Bair (Republican) is drawing to a close but she will not be seeking reappointment after 18 months. In an interview she talked of her plans to use her agency to be at the forefront to battle escalating foreclosures. She would evaluate new policies [...]

Apathetic Banks and Delays on the Part of the Government Have Worsened Foreclosure Situation

An apathetic attitude by the banks and delays on the part of the government has worsened the foreclosure situation. Federal legislators gathered in Cleveland during the first week of December to analyze the grim situation of worsening foreclosures in the region. The legislators formed part of a subcommittee of the Congress. [...]

Foreclosures Can be Daunting and Confusing to Those not Conversant With the Rules

Many think that the lenders hires auctioneer who wave a red flags to attract crowds. But this is not the case. In the majority of the instances the lawyer of the lender conducts the auction within the office premises. Those who have read the legal notification in the newspapers come to [...]

The Foreclosure Crisis in USA Snowballed into Involving the Entire Globe

It has been 18 months since the drama began with the collapse of Lehman Brothers and one financial giant after another. Apparently it all started with the foreclosure crisis stemming from toxic sub-prime mortgages. Today the question is being asked whether the crisis is over or whether it has dug deeper [...]

Lenders Continue to Avoid Mortgage Modifications Allowing Continuation of Foreclosure Crisis

The lenders are continuing to avoid mortgage modifications thus allowing continuation of the foreclosure crisis. While the House is debating on Wall Street Reform and Consumer Protection Act of 2009, the lending group continues the old strategy of opposing a provision regarding mortgage provision that would permit bankruptcy judges to [...]

Amidst Foreclosures, Lenders are Failing to Modify Loans Permanently

The American economy is on a tailspin what with unemployment at an all-time high. As people lose jobs, even those with sound credit rating, are faltering on mortgage payments. Hence, foreclosures have become common. The Federal government has come up with Making Homes Affordable program. As part of this program, the [...]