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Option ARM Loans Will Soon Flood the Country with Foreclosures

Repeated warnings are being given of Option ARM loans poised to flood the country with a new wave of foreclosures. The monthly payments are ready to jump.
But those in New York City will not be acutely affected. During the time of the housing boom these loans were the last word as regards “affordability”. The borrowers [...]

The Tentacles of the Foreclosure Mess Touch Each and Everybody

Pediatrician Anh Tran is 51 years old. She believes that the tentacles of this foreclosure mess touch each and everybody; directly or indirectly nobody is immune from it. She has a jumbo plan which initially might be dismissed as unreal and naïve.
Anh Tran of Santa Clara explains that when an adjacent house goes into foreclosure [...]

Foreclosure Numbers Have Dropped But This May Be Misleading

Foreclosure numbers across the state have dropped but it may be misleading to make a song and dance about it. A storm is of preceded by a lull. In November the foreclosure numbers reached its lowest level since the last five months. In November there were 259,085 foreclosures – the number being [...]

Donations Rush In For Foreclosure Rescue Act

A family from Aberdeen said on Sunday 30th November 2008 that their house has been saved from foreclosure thanks to rush of donations amounting to $10,917. Daniel Sampson senior said that after having raised the right amount they disabled the donation button of their web site.
The family had made a public appeal for help as [...]

The Foreclosure Crisis and Lessons to Be Learnt From Switzerland, China and Mexico

There are some lessons to be learnt about the foreclosure crisis from Switzerland China and Mexico.

Professor Luzi Hail was formerly of Swiss Bank Corporation. He said that during the 90’s as a result of the banking crisis the bank numbers were cut down by half in that country. The foreclosure related [...]

Foreclosures and Agenda for the Government

The foreclosure crisis is going to shape the agenda of the government. Even before Barack Obama has taken office, there have been proposals for fast action so help victims of the foreclosure crisis.
Conventional wisdom says that the new government must send a signal to the world by dealing first with the huge budget [...]

Foreclosure Crisis – Obama’s First Priority

During the first hundred days of his taking over the reins officially, it is expected that the foreclosure crisis will be Barack Obama’s first priority. He faces the same problem that Franklin Roosevelt faced in 1933 – the Great Depression and the trauma of the aftermath of the Great War. Debts [...]

Newer Subdivisions Mauled By Foreclosures

Newer subdivisions are now being mauled by foreclosures. Hamilton County had not suffered from unemployment that has rocked the rest of Indiana but the number of foreclosures in the wealthiest county has sharply spiked from 971 in 2007 to about 1,400 listings this year.
In October there were 200 foreclosure listings in Hamilton [...]

Legal Aid Bodies Overwhelmed By Foreclosure Issues

The spike in foreclosure numbers has led to legal aid bodies being overwhelmed by foreclosure issues.
In the instance of criminal cases everyone is entitled to a lawyer but in civil suits like that pertaining to foreclosure this is not the case. Here the accused does not have the right to have an attorney. Legal aid [...]

Obama Concentrating On Creating Jobs to Tackle Foreclosures

The logic is simple – if people have jobs they will be able to make their foreclosure payments; otherwise they will fail and slip into foreclosure. Thus President elect Obama is taking the right step in concentrating on creating jobs to tackle foreclosures. He will be naming economic experts outside the [...]