As the foreclosure crisis worsens, many homeowners facing foreclosure are finding themselves the target of sensationalists, whiners and finger-pointers. The foreclosure crisis, some say, is the result of irresponsible, greedy homeowners who have taken on more than they could handle and now they're experiencing the consequences of their extravagance. But is that really true? The [...]
There's an interesting article in the Huffington Post, which suggests a unique (well not so unique) solution to the foreclosure crisis. The author said: "Let's have a federal bill that states that any bank that took a bailout loan and hasn't paid it back yet isn't permitted to foreclose on anybody's primary residence. In addition, [...]
According to an article in Reuters, the National Consumer Law Center (NCLC) just released a report finding that mortgage servicers have favored foreclosure over loan modification because it's cheaper and even more profitable to the servicer. The article said:"Loan modifications inevitably cost the servicer something. A servicer deciding between a foreclosure and a loan modification [...]
There is currently a huge push to extend the expiration date on the $8,000 federal "tax credit" for first-time homebuyers and even expand its scope. But should we really spend an additional $16.7 billion lining the pockets of the mortgage industry while millions of Americans face the prospect of foreclosure? Some "experts" say yes. An [...]
According to an article in the Star-Telegram, the number of foreclosures in Tarrant County have increased by 35 percent since November 2008. The article said: "At this pace, and with only December's postings remaining to be filed, I fully expect D-FW residential postings for 2009 to top 60,000, which will be an all-time record high," [...]
According to an article in the Star-Telegram, the foreclosure crisis is having an impact on the 2010 Census as more families become homeless due to foreclosure. The article said:"Director Robert Groves said he expects some of the census questionnaires mailed out in 2010 will land at empty homes in areas hard hit by the housing [...]
According to an article in the Star-Telegram, Dallas-Fort Worth has one of the worst oversupply of condos in the country. Dallas alone has a five-year supply of million-dollar condo units sitting empty. The high priced condos account for 1 out of every 4 condos in foreclosure The glut of condos have been hurting prices and [...]
According to an article in the Star-Telegram, a Florida appeals court chastised a judge for granting extensions in a foreclosure case for compassionate reasons. The article said: "The Third District Court of Appeal ruled last week that Circuit Judge Valerie Manno Schurr could not grant extensions solely on grounds of benevolence or compassion. Schurr had [...]
According to an article in the Star-Telegram, the Congressional Oversight Panel which is responsible for making regular assessments of the $700 billion financial bailout of banks has reported that the foreclosure plan "Making Home Affordable" has failed to hit the mark. The committee recommended that the Treasury Department either improve the program or adopt a [...]
According to an article in USA Today, most low-income homeowners facing foreclosure try to fight foreclosure without the help of an attorney. And while there are lawyers and centers committed to helping the nation's poor fight foreclosure, many of these legal assistance centers are overwhelmed. The article said:"A study to be released today by the [...]