Foreclosure Crisis

Foreclosure Prevention Tips

For those facing foreclosure, it can be very difficult to know what to after receiving a Notice of Default, unfortunately, most people make the worst mistake possible, which is to do nothing and hope for the problem to somehow work itself out. The truth is, if you don’t deal with your foreclosure right away, the [...]

Maryland Sees Huge Increase in First Quarter Foreclosures

Maryland, despite the state government’s efforts to create foreclosure prevention services for citizens and to hold bankers and lending organizations accountable for the housing crisis, saw its first quarter foreclosure statistics rise drastically, as more than 11,000 homes were foreclosed on in the first part of the year.
Now, roughly 1 in every 200 homes in [...]

Colorado’s Infamous Weld County Forms Foreclosure Counseling Forum

Colorado has long had a reputation as one of the state’s with the highest inventories of foreclosure properties, and for a long time there foreclosure situation was one of the worst in the country. But in an effort to battle that trend, the Mayors of several cities in Colorado have come together to form the Weld County Mortgage Assistance and Counseling Forum.

Minnesota Senate Approves Foreclosure Bill

The Minnesota state Senate announced on Monday that they had given preliminary approval to the proposed home assistance bill that was aimed at helping homeowners in need fight off foreclosure. Foreclosure homes have been growing in incredible numbers in Minnesota, and are currently at record highs in many areas throughout the state, especially the Minneapolis / St. Paul area.

House Debates New Foreclosure Rescue Bill

News from the House of Representatives this week is that discussion will cover a proposed $300 billion housing rescue package aimed at trying to turn around the horrible condition of the real estate market. Most of the money would be used to try to stem the tide of foreclosures, which previous legislation hasn’t been able to do, causing many to criticize the federal government for doing little to actually help homeowners in foreclosure.

California Senate OK’s Foreclosure Bill

The California state senate approved a bill on Monday aimed at slowing the drastic rise in foreclosures in the state, ending months of debate on the bill and signing it into action. California has had one of the worst foreclosure problems in the country, and currently holds the highest inventory of foreclosed homes out of [...]

Foreclosure Crisis Takes it Toll on City Economies and Communities

New studies and reports are indicating that the foreclosure crisis has had a much greater effect on cities, the economy and the daily lives of citizens than simply putting many in danger of losing their homes. USA Today recently reported that the foreclosure crisis has resulted in a loss of revenue for many cities, probably [...]