As mortgage defaults and foreclosures continue to rise, the impact is spreading well beyond those who are losing their homes.
In communities across the country, msnbc.com readers report that local governments are coping with shrinking tax rolls, lenders are saddled with more foreclosed homes than they can sell and empty homes in many neighborhoods are being […]
Communities suffer as foreclosure rate rises
June 24th, 2008 · Permalink
Tags: gloom & doom · national
US foreclosure filings surge 48 percent in May
June 13th, 2008 · Permalink
AP - Soaring foreclosures are continuing to raise questions about the mortgage industry’s claims that they are making a dent in the housing crisis.
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Tags: gloom & doom · national
Expert Predicts Housing Market Bottom Next Year
May 1st, 2008 · Permalink
DENVER (CBS4) ― “I think it’s terrible,” said a man in Green Valley Ranch.
The foreclosure rate there shows it’s the worst area of Denver. People know it and are feeling it.
“Yeah, I want to move,” says another homeowner.
But with so many bank owned homes, the market is so soft.
“There’s no way possible that […]
Home prices sink at record clip; foreclosures keep mounting
April 29th, 2008 · Permalink
NEW YORK - In a bad omen for sellers and lenders this spring home selling season, the erosion of house values is accelerating and foreclosure filings are doubling, new data showed Tuesday.
A closely watched index of home prices in 20 cities fell almost 13 percent in February from a year earlier, a record for […]
Tags: economy · gloom & doom · national
Homeowner vacancies hit record high
April 28th, 2008 · Permalink
Reuters - The share of vacant U.S. homes rose to a record level in the first quarter, the government reported on Monday, with homeowners finding it increasingly difficult to find buyers in a collapsed market and more homes in foreclosure.
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Tags: economy · gloom & doom · national
Lying brokers and other nightmares
March 20th, 2008 · Permalink
HARTFORD, Conn. (CNN) — Yolanda Cruz knew soon after she refinanced her home two and a half years ago she had a problem.
She thought the $1,478 monthly payment quoted by her mortgage broker included taxes and insurance. In fact, Cruz says she asked the broker repeatedly if those costs were included and was reassured they […]
Tags: economy · gloom & doom · national
Foreclosures hit all-time high
March 6th, 2008 · Permalink
NEW YORK (CNNMoney.com) — More home owners than ever are losing the battle to make their monthly mortgage payments.
Over 900,000 households are in the foreclosure process, up 71% from a year ago, according to a survey by the Mortgage Bankers Association. That figure represents 2.04% of all mortgages, the highest rate in the report’s quarterly, […]
Tags: economy · gloom & doom · national
Mortgage Foreclosures Reach All-Time High
March 6th, 2008 · Permalink
Stocks on Wall Street fell sharply yesterday with fresh concerns over the health of financial firms that have invested heavily in mortgage-backed securities and a new report showing that more homeowners had fallen into foreclosure than ever before.
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Tags: economy · gloom & doom · national










