Why has our country become so cold-hearted? Isn’t it a fair tradeoff to help some who are undeserving if we can prevent hard-working families — at least some of them — to avoid losing their homes?
California senators yesterday voted to channel more funding toward the investigation and prosecution of real estate fraud in their state.
Throughout the subprime lending crisis and as foreclosures across the country soar, few mortgage companies have taken heat like Countrywide. Arguably once the most powerful lender in the country, Countrywide has become a favorite of critics, teetered on the verge of bankruptcy and was eventually acquired by Bank of America.
The U.S. Treasury Department is in the midst of asking — some would say demanding — that mortgage lenders adopt a new set of uniform, but voluntary, rules that would make it easier for them to modify mortgage loans that homeowners can no longer afford.
A new study by Washington, D.C.-based First Focus, a children’s advocacy group, puts some frightening numbers to the foreclosure and subprime mortgage-lending crises. According to the study, which you can read about here, an estimated 2 million U.S. children will be directly impacted as their families lose their homes to foreclosure.
Recently, though, the Times wrote a funny little story about the terraces outside those towering apartment buildings dotting the city. Seems some people love their terraces, while others … don’t.
How common are housing foreclosures becoming? According to RealtyTrac, an online publisher of foreclosure data, one in every 194 U.S. households received a foreclosure filing during the first quarter of the year.
Surprisingly enough, in this severe housing downturn, several governments across the country are proposing increases in homeowners’ property tax rates.
This is a real estate blog, so I won’t give you the entire rundown of our touristy weekend. But I will say this, looking at the number of “For Sale” signs even off of Springfield’s downtown was rather sobering. Many of these homes were in terrible repair. And others were certainly foreclosures.
When we think of foreclosures, we tend to think they happen only in poorer neighborhoods. Well, that’s not the case.
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Written by Dan Rafter [email] for b5media.
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