Archive for the ‘Foreclosure Crisis’ Category

McCain’s response to the housing crisis seems as easy as walking on water – a yogic feat rather a practical one that is feasible. Experts are critical about the government purchasing soured mortgages so that the monthly loan payments of the foreclosure threatened victims go down. Pundits opine that far from solving the crisis it [...]

The raging foreclosure crisis that has had a snowballing effect not only on Wall Street but on the global markets also has led to a lot of introspection on American economy. Experts and analysts are hammer and tong with their various theories.
The question that arises first is whether the foreclosure crisis is the symptom or [...]

The month of August saw a rise of 12% in foreclosures. This is an increase of about 27% from that of August last year. The report on foreclosure this month says that out of every 416 houses in America, at least one house has faced foreclosure. A total of 303879 properties have been in a [...]

Analyzing the causes of the foreclosure crisis the accusing finger points first at the sub-prime mortgages. But are they the sole cause for this catastrophe?
Since the last two years foreclosures have been swamping the nation causing alarm and panic. It has led to blame being tossed around from one point to another. This is the [...]

The most commonly given reasons for the foreclosure crisis is predatory peddling of sub-prime mortgages (ARMs) to gullible ignorant buyers. Those who contracted the mortgages are not above blame – they falsified their incomes, wrongly took the help of unscrupulous appraisers to raise the value of the houses being mortgaged so as to avail of [...]

All the political bigwigs and stalwarts – President Bush, Obama, John Edwards, Mitt Romnay, Hillary Clinton and John McCain – are singing the same tune about foreclosures. All agree that the government must do something to put a check. All agree that the borrowers occupying houses are innocent and that the lender is the predator. [...]

The economic predictions are gloomy. There are more houses for sale in the market than buyers. Figures do not hold out much hope for the future – rather statistics indicate that the market will be flooded with more and more foreclosed houses begging to be sold. But auctioneers Hudson & Marshall seem to have brought [...]

At the City Hall in Trenton a large map is spread out on the table covered with black dots – pockmarks of foreclosures. The owners are burdened with high interest charges but they do not want to come forward. The problem before the city fathers is to see that these dots do not spread.
The [...]

The eye of the foreclosure storm in USA is centered in Cleveland. The city is not taking it lying low – it has filed cases against 21 banks accusing them of having become a public nuisance by playing around with sub-prime mortgages in and around the inner city. As a result property values have plunged [...]

A record number of houses in Southwest County fell to foreclosures in 2007 leading to a plunge in the real estate market. From October 2006 to September 2007 more than 26,000 mortgages defaulted. Every quarter the numbers continue to rise. Lenders are briskly seizing houses. In Southwest County banks own 1,900 houses – that [...]