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October 6, 2008 1:37:54 PM CDT

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Stories related to: foreclosure

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  • July 2008

    • June Foreclosures Jump 53%

      Associated Press  |  Jul 10, 08 7:19 AM CDT

      June Foreclosures Jump 53%

      (AP) - The number of homeowners stung by the rout in the US housing market jumped last month as foreclosure filings grew by 53% over June a year ago, according to data released today. One in every 501 US households was hit with a foreclosure filing last month. More »

      Tags

      California  • Florida  • housing crisis  • foreclosure  • Michigan  • Nevada  • mortgage defaults

  • June 2008

    • 75% Blame Bush for Faltering Economy

      Los Angeles Times  |  Jun 26, 08 4:20 AM CDT

      75% Blame Bush for Faltering Economy

      (Newser) - A new poll paints a gloomy picture of a pessimistic America struggling with soaring gas prices and a deteriorating economy—and blaming President Bush. Three of four Americans—including a large number of Republicans—hold the president responsible for the economic downturn, according to a Los Angeles Times/Bloomberg poll. The president's approval rating has sunk to an all-time low of just 23%. His constituency is particularly irritated about his lack of action to stem rocketing gas prices. More »

    • Huge Homeowner Aid Bill Nears Approval

      New York Times  |  Jun 25, 08 4:54 AM CDT

      Huge Homeowner Aid Bill Nears Approval

      (Newser) - With 8,000 foreclosures daily and looming elections, Congress is close to approving the most sweeping changes to mortgage financing since the New Deal, reports the New York Times. The pricey aid bill aimed at helping hundreds of thousands of homeowners facing foreclosure has bipartisan support, despite the threat of a presidential veto. More »

      Tags

      Congress  • Senate  • housing crisis  • foreclosure  • John Kerry  • Barney Frank  • presidential veto

    • Housing Slump Won't Ease Anytime Soon, Says Study

      Reuters  |  Jun 23, 08 7:48 AM CDT

      Housing Slump Won't Ease Anytime Soon, Says Study

      (Newser) - Rising mortgage rates and a tenacious slump in sales and home values will continue to depress the worst housing market in decades, reports Reuters. Don't expect potential saviors—new home buyers—to make a dent any time soon, says a Harvard study. With mortgage rates at a 9-month high, credit tight, and foreclosures on the rise, they will likely wait until the market hits bottom, and it appears to have a ways to go.  More »

      Tags

      Federal Reserve  • housing market  • foreclosure  • interest rate  • home prices

    • Creditors Fed Off Equity Boom, Creating 'Double Bubble'

      USA Today  |  Jun 18, 08 3:55 PM CDT

      Creditors Fed Off Equity Boom, Creating 'Double Bubble'

      (Newser) - As home values boomed, banks raised credit limits and extended offers for new cards, urging consumers to pay off the debt by drawing on their equity, USA Today reports. Many of those borrowers now face high interest rates on homes tapped of equity and hemorrhaging value—and the boom in foreclosures has been accompanied by a 6-year high in credit-card delinquencies. More »

      Tags

      foreclosure  • bank  • credit card  • default  • home equity  • home equity loans

    • Foreclosures Surge 48% in May

      Associated Press  |  Jun 13, 08 9:35 AM CDT

      Foreclosures Surge 48% in May

      (AP) - The number of US homeowners swept up in the housing crisis rose further last month, with foreclosure filings up 48% over a year earlier. Nationwide, 261,255 homes received at least one foreclosure-related filing in May, up 7%  from April and the second straight monthly record. That's one in every 483 US households, the highest number since the foreclosure listing company started the report in 2005. More »

      Tags

      foreclosure  • real estate  • subprime mortgage crisis  • housing

    • New Wave of Foreclosures Expected in '09

      BusinessWeek  |  Jun 7, 08 10:44 AM CDT

      New Wave of Foreclosures Expected in '09

      (Newser) - America’s subprime victims may have grudgingly accepted their fate, but there’s a new class of borrowers primed to suffer, BusinessWeek reports. Homeowners who took out ARMs, or adjustable rate mortgages, will soon face skyrocketing payments as their loans reset. About a million people have the mortgages, but only a small number have already fallen due. “It's a ticking time bomb inside your house that you can't get rid of,” one insider said. More »

    • Carson Sidekick Faces Home Foreclosure

      Wall Street Journal  |  Jun 4, 08 12:03 PM CDT

      Carson Sidekick Faces Home Foreclosure

      (Newser) - Former Johnny Carson sidekick Ed McMahon, 85 and out of work following a fall, is in negotiations with lenders to save his Beverly Hills home from foreclosure, the Wall Street Journal . He owed $644,000 on a $4.8 million loan as of February, plus $300,000 on a line of credit; the property is on the market at $5.75 million. More »

      Tags

      foreclosure  • Ed McMahon  • Johnny Carson

  • May 2008

    • Bill Could Cripple Minn. Governor in Mac Veepstakes

      Wall Street Journal  |  May 28, 08 4:37 PM CDT

      Bill Could Cripple Minn. Governor in Mac Veepstakes

      (Newser) - A top Republican vice-presidential possible is in a fix, as his pending decision on state housing legislation could come back to hurt in the general election. Minnesota Gov. Tim Pawlenty has a foreclosure-deferment bill sitting on his desk; he’s already voiced opposition to it, but vetoing it might make him look “insensitive to homeowners,” the Wall Street Journal observes. More »

      Tags

      John McCain  • foreclosure  • Minnesota  • Tim Pawlenty  • veto

    • Foreclosure Sales Rebound as Buyers Snap Up Deals

      Wall Street Journal  |  May 27, 08 7:31 AM CDT

      Foreclosure Sales Rebound as Buyers Snap Up Deals

      (Newser) - April generally was not a great month for home sales, the Wall Street Journal reports—except in the areas hardest hit by the subprime crisis as lenders slash prices on foreclosed homes and buyers snap them up. Subprime-riddled Detroit, for example, has seen home sales rise 48% in the past four months over last year; but prices have dropped 56%. More »

      Tags

      housing market  • foreclosure  • home prices  • home sales  • real estate values  • existing home sales

    • Squatters, Scammers Move In on Foreclosed Homes

      Reuters  |  May 19, 08 3:30 PM CDT

      Squatters, Scammers Move In on Foreclosed Homes

      (Newser) - Add a new twist to the housing crisis: Squatters are increasingly using homes that have been abandoned for months, and con artists are scamming banks in “cash for keys” deals or luring people into “leasing” homes that actually are foreclosures sitting empty, Reuters reports. Authorities can have a hard time proving the squatters aren't renters—and get little help from foreclosed-on owners. More »

      Tags

      housing crisis  • foreclosure  • subprime mortgage crisis  • mortgage defaults  • eviction

    • Foreclosures Go Upscale

      Washington Post  |  May 15, 08 10:11 AM CDT

      Foreclosures Go Upscale

      (Newser) - Luxury homes—once seemingly immune from the mortgage crisis—are starting to hit foreclosure lists across the nation, the Washington Post reports. And, real-estate agents predict, it’s just the beginning of a trend likely to grow as more buyers who bought beyond their means with adjustable-rate and interest-only mortgages are hit by the economic slowdown. More »