The underlying tone of the rescue bill for Wall Street is voluntary and as such will have little effect on local and regional foreclosures.
According to the provisions of the bill the government can purchase up to $700 billion in mortgage related securities that are connected with soured house loans. This is the primary goal. Preventing [...]

The bitter pill of the bailout package of $700 is the only medicine for the deadly foreclosure malady – no matter how unpalatable it is. The taxpayer needs to be explained so as to be able to swallow it with good grace and allow it to work to heal the system.
The government will be using [...]

The Sheriff of Cook County, Tom Dart is under fire from the lenders for doing something very unconventional – restraining foreclosure evictions.
Foreclosures are causing tenants to be thrown out unceremoniously because their landlords have been foreclosed upon. Diane Limas and few others were ready to march to the Sheriff’s office protesting against the high handedness [...]

Foreclosures are linked closely to savings and spending habits. It is associated with the carefully cultivated credit culture. It almost became a fashion to be sitting with loans – from cars, grocery bills to houses. Invariably this doomsday culture led to the hell of foreclosures.
The Japanese save and avoid spending. Their exports are more than [...]

The prime target of the $700 bailout package is focused on Wall Street together with mumblings about giving relief to harassed house owners.
The obvious question is how will it help the foreclosure victims? The money will be used to purchase soured mortgages as well as securities linked to these mortgages. As soon as the government [...]

Sometimes a guileless child will ask an awkward question making the adults uncomfortable. That is exactly what Alex Blumberg did. He hit the foreclosure nail on the head with a simple almost dumb question – why was money lent to those who could not return it?
Blumberg runs a radio show that focuses on America of [...]

About 6.5% of the entire Texan mortgage holders are defaulting and late in their monthly payments. Foreclosures in Texas have overtaken the national average. The national loan delinquency average reads 5.12% according to Mortgage Bankers Association. In the national rankings of foreclosure Texas ranks 9th as regards late payments. Most of the borrowers in Texas [...]

HUD funds are now available for rescuing foreclosure victims in McAllen. A survey is being conducted covering over 320 lending firms to find out the extent of foreclosures each is responsible for. The findings will support their cases when they seek a slice of the $101 million cake from the governor of Texas, to help [...]

The media is full with numbers and statistics trying to measure the damage done by the housing crisis. But the agony caused to the individual by foreclosures cannot be gauged by figures. The banking giants and jumbo institutions are tottering but the real story is how the foreclosure related economic slowdown is hitting the common [...]

The much talked about foreclosure relief programmed has kicked off. Lenders are being advised to accept losses so as to help foreclosure victims to continue with monthly payments. About 400,000 borrowers who are in trouble will now be able to exchange their running mortgages to more affordable ones. However it is not the borrowers but [...]