Foreclosure1 Blog

The Federal Reserves took yet another move to tackle foreclosures. The chairperson of the Federal Reserves, Ben Bernanke gave his assent to the lowering of the benchmark federal funds rate to 2%. It was a quarter percentage drop. At the start of the 2008 it was 4.25%. Dallas Fed president Richard Fisher, and Philadelphia Fed […]

Research studies show that far from slowing down the foreclosures have doubled during the first quarter of 2008 in comparison to what it was in the previous year. Falling real estate markets together with tightening of mortgage loans are held responsible for this situation. More and more houses are not being […]

There seems to be no respite from the onslaught as foreclosures march on relentlessly across the country.
Ohio continues to be one of the worst hit regions ranking among the top ten offenders. RealtyTrac, noted online tracing agency said that Ohio showed 11,273 in some stage or the other of foreclosure. Foreclosure is […]

Foreclosures have also started to stalk Arizona state in southwestern US. Its largest city and capital Phoenix has not been spared; neither are the other big cites of Arizona - Tucson, Flagstaff, Mesa, Glendale and Yuma. This land of hot summers and mild winters, this paradise of deserts shaking hands with pine forests on mountain […]

Unbelievable but true – despite much hype and platitudes the Foreclosure Prevention Act of 2008 smacks of encouraging house foreclosures. This bill that has involved both Republicans and Democrats includes measures that instead of stopping foreclosures might push it forward. Anybody who purchases a foreclosed unit within a year of the enforcement of the bill […]

Since the last twelve months the number of foreclosures in the 351 cities/towns of Massachusetts increased considerably. In 74 communities that rise was as high as 75%. In the city of Lynn, Essex County, the increase was the highest – 83.3%, according to reliable online sources tracking the foreclosure performance across the state. In Lynn […]

Like other parts of the US the two counties of Otsego and Delaware are seeing foreclosures on the rise. The future seems bleak with lenders set to increase mortgage rates and many more house owners might lose their hearths and homes. The courts in both counties are overwhelmed with foreclosure suits. In 2008 a total […]

The report from Maryland is that there are three reform bills in the offing aimed to hit at foreclosures. One such bill was signed by Governor O’Malley (Democrat). It would make fraudulent lenders to be charged for criminal activities. Another measure will increase the time before foreclosures can become effective from […]

Both Democrats and Republicans realize that the most important issue before them is the foreclosure problem but they differ about the medicine to be administered to tackle the disease.
On Tuesday a Democrat bill was voted that has tried to provide a mixture of relief. The bill aimsto sanction 4 billion to allow for communities to […]

Today as foreclosures march on relentlessly there is a surfeit of ideas and suggestions to stop the virus affecting all – borrowers, lenders, government society and economy. A big question is that should bankruptcy laws be adjusted to help borrowers?
There is a change in the air – inevitable with the arrival of the housing crisis. […]