Foreclosure Crisis
Obama to Spend Nearly a Third of the Remaining Bailout Money to Reduce Foreclosures
Larry Summers, top economic adviser of incoming US President Barack Obama, has assured House Financial Services Committee Chairman Barney Frank that the incoming president will commit up to $100 billion of the $350 billion Troubled Asset Relief Program financial bailout fund to help struggling homeowners avoid foreclosure.
Second $350 Billion of TARP: For Whose Foreclosure Program?
The outgoing Bush administration may request Congress to release the second half of the $700 billion Troubled Asset Relief Program fund allocated by Congress in October 2008 to help contain economic problems, especially foreclosure troubles.
Hispanic Borrowers Affected By Foreclosure Crisis
The entire country has been under the foreclosure crisis over the past months β the Hispanic population is not an exception.
Obama’s Tax Plan: Hope for Foreclosure-Threatened Homeowners
President-elect Barack Obama’s declared desire to help middle- and low-income families survive the economic downturn has given hope to homeowners troubled by threats of foreclosures.
Foreclosure Dip – Only a Preempt To a Bigger Downfall
Last November, foreclosures have exhibited a drop to almost 7 percent from October. According to a report from RealtyTrac, filings for foreclosures reached 259,085 homes, which was a definite decline from October.
Housing Market Forecast Grim with more Foreclosures and Unemployment
The outlook for the U.S. Housing market for next year is definitely gloom and could probably be worse than this year. Statistics show that more than 81,000 families lost homes to foreclosures this September, a 71 percent increase from last year. 2008 proved to be a bad year for the housing market as a record 765,558 foreclosure homes were already tallied with still a month left for the year.
Foreclosure Still Looming to Many Nationwide
A family loses a home after foreclosure. An abandoned home due to foreclosure attracts vandalism and crime bringing the houseβs value down. The danger and eyesore brought by the wrecked house plus lower appraisal values is tough for the whole neighborhood. A study in Chicago found out those homes within an eight of a mile from a foreclosed home drop its value by 1 percent up to $250,000.
Boston Non-Profits Give the Foreclosure Problematic Some Hope
Parents like Nadine Hill are now troubled by foreclosure. 80 other Bostonians attended a foreclosure prevention meeting at the Dorchesterβs Great Hall.
Foreclosure Crisis Make Home Sellers Suffer
Foreclosure homes keep flooding the market, driving median home prices lower. Yes, lower prices are good if you are the buyer but for home sellers, low home prices mean cheaper sale and that really hurts them.
Merced County Receives $7 Million in Foreclosure Money
Finally, Merced County is set to receive $7 million in foreclosure aid from the U.S. Department of Housing and Urban Development (HUD) after having been left out in HUD’s list of counties and cities to receive aid directly from HUD.
Merced Countyβs aid of $7 million will come from the $145 million given to the [...]
