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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: foreclosure

foreclosure stories: 205 news summaries

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(Newser) - The house of financially challenged actor Stephen Baldwin is going up for auction later this month, the Lower Hudson Journal News reports. The I'm a Celebrity—Get Me Out of Here! star paid $515,000 for the New York state property 12 years ago, but he and wife Kennya... More »

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reality TV • foreclosure • auction • Stephen Baldwin • house • home • I'm A Celebrity ... Get Me Out of Here!

 Celebs Headed 
 for Foreclosure 

Jacko, Canseco, Ed McMahon fight for roofs over their heads

Jun 8, 09 3:22 PM CDT
(Newser) - Even the famous aren't immune to foreclosure, as these celebrities, listed in Forbes, prove:
  • Xzibit: A pimped ride hasn’t been enough to pay the bills on his $536,000 Woodland Hills, Calif., home.
  • Jose Canseco: The ex-ballplayer, who penned a book on big-league steroids, stands to lose
... More »

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entertainment • housing market • foreclosure • housing • Jose Canseco • Evander Holyfield • house • Michael Jackson • home • mansion • Ed McMahon • Victoria Gotti • Xzibit

(Newser) - It’s a perfect, er, storm: Some of America’s most hurricane-prone areas are littered with foreclosed houses likely send debris flying in a storm, the AP reports. Without caretakers to secure them, the houses will also endure greater damage and lose even more value. "A lot of these... More »

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foreclosure • recovery • hurricane • property damage

New Foreclosure Legislation May Not Be Enough

Congressional aid to homeowners may need overhaul, not 'patches'

May 22, 09 12:45 PM CDT
(Newser) - Congress’ Hope for Homeowners plan was aimed at fighting the foreclosure epidemic, and it’s been a success for exactly one person. Now, lawmakers have put “patches” on the legislation—but some worry the fixes aren’t going to do the job, ProPublica reports. Instead, it needs “some... More »

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Congress • housing market • foreclosure • mortgage • homeowners • mortgage lender • Hope for Homeowners

(Newser) - Lawyers nationwide are learning about foreclosure law to help new clients keep their homes, NPR reports. Housing attorneys are even teaching seminars to lawyers, who accept cases pro bono, knowing homeowners can't turn to swamped legal aid offices. Some find it "incredibly rewarding to help someone save their house... More »

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homes • foreclosure • lawyer • attorney • pro bono

Foreclosure Crisis Wallops Minority Neighborhoods

Lenders accused of 'redlining' black neighborhoods for subprime loans

May 16, 09 6:44 AM CDT
(Newser) - The national foreclosure crisis is battering minority neighborhoods with disproportionate force, the New York Times reports. Few areas in the New York region have been untouched by the crisis, but 85% of the worst-hit neighborhoods have a majority of black and Latino homeowners. Experts blame the trend on subprime lenders'... More »

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African Americans • housing market • subprime mortgages • foreclosure • mortgage • minorities • subprime crisis

(Newser) - Stocks sunk swiftly at the open after disappointing sales reports from retailers. The Dow tumbled 160 points, while the Nasdaq and S&P fell 1.5% and 2.1% respectively. Retail sales were down a more-than-expected 0.4% in April, from a revised-downward 1.3% drop in March. RealtyTrac also... More »

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stock market • Dow Jones • foreclosure • Ford • Nasdaq • retail sales • S&P 500

ANALYSIS

In Market Hit Early, Signs of
a Recovery

Some see bottom, others 'fool's gold' in Sacramento real estate

May 5, 09 8:53 AM CDT
(Newser) - In Sacramento, one of the first US cities to see the housing market crumble, there are glimmers of recovery, the New York Times reports. Sales have jumped 45% from last year, and investors and first-time buyers are on the prowl. “It’s fragile, and it could easily be fleeting,... More »

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housing market • Sacramento • foreclosure • recovery • financial crisis

Cure for Dead Lawns at Foreclosures: Green Paint

Recession has left entire neighborhoods in need of quick spray

May 2, 09 11:54 AM CDT
(Newser) - California’s Riverside County is looking a little greener these days—just don't look too closely. The area has been so racked by foreclosures and unsold homes that parts of it look like a ghost town, complete with very dead grass. That’s where Insta-Green comes in. The start-up has... More »

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foreclosure • recession • housing crisis

 Md. Man Who Killed Family 
 Was $460K in Debt 

Father detailed mortgage, credit card woes in notes

Apr 22, 09 2:48 PM CDT
(Newser) - The Maryland man who murdered his family before shooting and killing himself complained of his financial troubles in notes left at the scene, the Washington Post reports. Christopher Wood’s family was at least $460,000 in debt from two mortgages and credit card charges. The family owned a Florida... More »

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suicide • murder • foreclosure • family • father • financial crisis • recession depression • filicide

 Foreclosures Rose 
 24% in First Quarter 

Rate expected to rise through the summer

Apr 16, 09 8:31 AM CDT
(AP) - The number of American households threatened with losing their homes grew 24% in the first 3 months of this year and is poised to rise further as major lenders restart foreclosures after a temporary moratorium, figures out today show. Though the Obama administration has invested $75 billion to help up... More »

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foreclosure • refinanced mortgages • housing crisis • mortgage delinquency • Obama administration • financial crisis • refinancing

(Newser) - As internal bank moratoriums on foreclosure imposed last year expire, many more Americans are losing their homes, the Wall Street Journal reports. Foreclosure proceedings were up 6% in February over January, and up 30% from March 2008. Just as the Obama administration's rescue plan kicks in, delinquents who don’... More »

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real estate • foreclosure • debt • recession • moratorium • homeowners • mortgage lender

Foreclosures Draw Eager Buyers, but Banks Drag Feet

Red tape and bureaucracy hinder efforts to buy repo'd properties

Apr 13, 09 8:00 AM CDT
(Newser) - Bargain hunters are turning to foreclosed homes for deals, but many are finding that buying repossessed properties from banks is a bureaucratic nightmare, the Washington Post reports. Though the housing market cannot stabilize until the unprecedented volume of foreclosures is sold off, banks are sluggish to act and fraught with... More »

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housing market • foreclosure • bureaucracy • housing crisis • repossessions • bureaucratic blunders • financial crisis

 Squatters Find Refuge 
 in Foreclosed Homes 

Activists move homeless families into bank-owned properties

Apr 10, 09 7:34 AM CDT
(Newser) - Advocacy groups around the country frustrated by the lack of affordable housing and the surplus of empty properties are moving homeless families into foreclosed houses, reports the New York Times reports. Groups like Miami's Take Back the Land screen "tenants" for mental illness and drug problems and require them... More »

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foreclosure • homeless • vacant homes • squatting

Crashed Market Opens Doors for New Homeowners

Foreclosed homes affordable to middle-class families

Apr 3, 09 8:37 AM CDT
(Newser) - Since the real estate market collapsed, buying a home has become possible for middle-class families for whom it was previously out of reach, the New York Times reports. Taina Goldman, a Miami nurse, recently paid $187,000 for a house worth $370,000 three years ago. And she’s not... More »

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real estate • housing market • foreclosure • housing

(Newser) - New England’s tallest building has a new owner today, the Boston Herald reports—and the John Hancock Tower proved a steal, going at foreclosure auction for about half what it sold for in 2006. A pair of firms bid $660.6 million for the 60-story building in Boston’s... More »

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Boston • foreclosure • auction • mortgage defaults • commercial real estate • John Hancock Tower • landmark

Fannie Mae's Task: Sell 65K Homes in Buyer's Market

Unloading homes quickly while maintaining value, Fannie walks tightrope

Mar 19, 09 9:38 AM CDT
(Newser) - It’s no secret that for US homeowners, it’s not a seller’s market. But imagine having 65,000 properties to sell. That’s the task ahead of Fannie Mae, NPR reports, as its volume of repossessed homes grows by the day. The guarantor of a third of all... More »

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housing market • foreclosure • housing • Fannie Mae • home prices • housing sales • repossessions • financial crisis

Playgrounds of Rich and Famous Hit the Skids

What would Jay Gatsby say?

Mar 17, 09 9:20 AM CDT
(Newser) - Even crème de la crème communities are curdling in the current crisis, reports the Telegraph. Take the Hamptons, where nearly as many homes were being foreclosed last week as the number of places sold. Residents in the super-affluent towns on Long Island's east end are struggling to meet... More »

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real estate • New York real estate • New York • foreclosure • mortgage • Long Island • Hamptons • fiscal crisis

(Newser) - You probably don’t want to live in the Chandler, Ariz., housing complex known as Alante on the Islands, MSNBC reports. The development was once owned by a California company, but entered receivership when the overextended firm went under. Now maintenance is spotty, the pool has turned green, residents don’... More »

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Arizona • foreclosure • recession • financial crisis • renters • receivership • housing complex

 Scammers Set Sights on 
 Desperate Homeowners 

Calif. AG: Be 'deeply skeptical' of offers to help refinance

Mar 16, 09 2:00 PM CDT
(Newser) - A record 5.4 million homeowners across the country are behind on their mortgages, and scam artists are looking to cash in, the San Francisco Chronicle reports. Ads offering help lowering mortgage payments are everywhere. But these "loan negotiators" usually provide services that homeowners can handle on their own,... More »

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housing market • foreclosure • scam • mortgage rates • refinanced mortgages • economic stimulus package • mortgage delinquency

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