Real Estate Foreclosure Blog
Florida is known for sun, sand and with the latest housing downturn, foreclosures. Any improvement in the foreclosure rate is seen as good news. During the month of August, the number of filings for foreclosure dipped slightly compared to the record setting levels of July. There have been a total of 3,616 foreclosures for the [...]
The CDO (collateralized debt obligation), hedge fund Paulson and Wall Street Goldman together made up a nice of cocktail of complex woes. Where did Goldman trip causing a civil suit to be filed against it – something that will cost its shareholders dear? A hedge fund manager, John Paulson knew from the onset that the [...]
ACORN, a community organization, has been involved in several fraud cases. Now the Housing and Urban Development (HUD) will not give grants to ACORN. The Senate has voted against financial support to the organization. The Senate has voted 83-7 against providing grant to ACORN (Association of Community Organizations for Reform Now). The organization has already [...]
A new Internet device is helping unemployed borrowers to get their loans modified. It will see to it that their unemployment benefits will be sufficient as regards amount and time to give them the opportunity to avail of modification of their mortgage loans. One of the prime foreclosure containment measures initiated by the Obama government [...]
It is now a year since the federal government has poured in money to bail out the collapsing banks but so far the success rate has been modest. Credit continues to be difficult to obtain in real estate markets and foreclosures. The credit market backed by commercial properties is in a worse shape. Since the [...]
Compared to other parts of the country foreclosure auctions have been fewer in Manhattan. But lately the number has started to increase. The residents are now apprehensive of the fallout from abandoned houses. The condo boards are also worried as their charges are common and yet many units are being foreclosed upon, reducing the revenue [...]
The FTC is taking steps to place bans on upfront fees for loan modification assistance. This step is coming on the heels of plans chalked out by the feds together with state to extend its activities on cracking down on mortgage scams to nab further nefarious schemes that are victimizing the troubled homeowners struggling with [...]
The American economy is on a tailspin. Banks in Illinois, Missouri, Arizona and Iowa have been closed by regulators this year. A total of 89 banks have been shut down this year. The banks had been plagued by loan defaults. The First Bank of Kansas City was taken over by the Federal Deposit Insurance Corporation. [...]
Real Estate Foreclosure Blog