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Latest Alabama Headlines

• Foreclosed Houses Poses Serious Problem during Hurricane Season - Jun 19, 2009

  With the approach of the hurricane season there is serious concern about problems emanating from foreclosed houses in Florida. About six vacant foreclosed houses are standing empty in Lehigh Acres just waiting to be destroyed when hurricanes slam down in south western Florida.

• Foreclosures Have Touched a Record High - May 06, 2009

  In the wake of increasing job cuts in the US, foreclosures have touched a record high in the first quarter. This was revealed by RealtyTrac. A sum of 803,489 houses has received a default notice and some were even seized. The number is 24 per cent more than previous year, according to the California-based agency.

• In a Foreclosure Age There Are Many Employment Opportunities - May 04, 2009

  In a foreclosure age there are many employment opportunities – one being supervising the school attendance of homeless children. Ruben Rosario is busy trying to get the kids to school anyhow – by bus, van or even in a cab. On any weekday Marto Hurrle is too busy simultaneously managing two phones – the mobile and the landline.

• The Role of FDIC in Mitigating Foreclosure Blues is Under Wraps - Apr 30, 2009

  The role of FDIC in mitigating foreclosure blues is under wraps – there is no transparency. FDIC has been auctioning off difficult loans, mainly commercial, at rock bottom prices. It is suffering financial losses but is avoiding the onus of directly confronting borrowers and realizing unpaid dues.

• Red Tape is Behind the Forestalling of Foreclosure Sales - Apr 27, 2009

  The picking up sales is pivotal to tackling the recession mood of the economy but red tape is behind the forestalling of foreclosure sales. Those hunting for bargains are flocking to purchase bank repo homes but the settlement often take time because of bureaucratic bungling. The irony of the situation is that both the lenders and the purchasers want quick transaction but things do not move.