A hastily drafted moratorium on foreclosures has kept many New Yorkers in their homes. It’s about to change.
New York City has been the big holdout in the U.S. housing meltdown. Wealthy foreigners flush with weak dollars and a finite supply of pricey Manhattan condominiums have kept the market moving.
But the New York hiatus from a […]
New York’s Impending Real Estate Doom
December 4th, 2008 · Permalink
Miami activist moves people into foreclosed houses
December 3rd, 2008 · Permalink
AP - Max Rameau delivers his sales pitch like a pro. “All tile floor!” he says during a recent showing. “And the living room, wow! It has great blinds.”
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Communities suffer as foreclosure rate rises
June 24th, 2008 · Permalink
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 […]
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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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 […]
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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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 […]
