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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: foreclosure

foreclosure stories: 205 news summaries

61 - 80 of 205 Stories | << Prev 1 2 3 4 5 6 7 8 ... 11 Next >>

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 Farmers Plucked by 
 Chicken Slump 

Foreclosures loom as chicken company cuts contracts

Feb 12, 09 11:29 AM CST
(Newser) - Hundreds of poultry farmers face foreclosures on their pricey chicken houses after poultry giant Pilgrim's Pride dropped their contracts. Some are suing in return, claiming the company encouraged them to take on hefty mortgages and vowed to keep their grandkids in business, the Wall Street Journal reports. Most farmers own... More »

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foreclosure • recession • farmer • poultry • chicken • financial crisis • Pilgrim's Pride • recession depression


 Obama Rallies 
 Support in 
 Hard-Hit 
 Fort Myers 

'You have seen hardship,' Obama tells supporters

Feb 10, 09 11:45 AM CST
(Newser) - President Obama headed to Fort Myers, Fla., today to rally support for his economic stimulus plan, telling residents “when the town is burning, you don't check party labels. Everybody needs to grab a hose,” the Miami Herald reports. Obama picked Fort Myers because its county has the highest... More »

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Florida • foreclosure • rally • unemployment • economic stimulus package • economy • Obama administration • President Obama

Obama Visit Shines Light on Florida's Gloomy Outlook

Prez follows long tradition of bemoaning Florida's unsustainability

Feb 10, 09 11:05 AM CST
(Newser) - When President Obama chose Fort Myers, Fla., to plug his stimulus plan, he magnified an already intense media glare on the state’s disastrous real estate market, reports the Miami Herald. The scrutiny continues in a long article in the current New Yorker—titled “Ponzi State”—and a... More »

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Florida • Barack Obama • real estate • foreclosure

New Bailout
Plan Hinges on Private Investors

Treasury will set 'floor price' on distressed assets to lure buyers

Feb 9, 09 8:37 AM CST
(Newser) - The Treasury's latest plan to rescue the banking industry relies heavily on private-sector investors, the New York Times reports. The government will guarantee a floor price on the toxic assets weighing down banks’ balance sheets, encouraging hedge funds, private equity groups, and even insurers to buy them. The plan... More »

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foreclosure • Treasury Department • financial sector • collateralized debt obligations • Obama administration • banking industry • Troubled Asset Relief Program • financial crisis • Wall Street bailout • Timothy Geithner • TARP • toxic assets

OPINION

 Don't Be Afraid of the 'F' Word 


Jan 31, 09 10:07 AM CST
(Newser) - Foreclosures have gotten a bad rap lately, with politicians desperate to prevent them. But foreclosures actually represent one of the best paths to recovery, writes real-estate consultant Ramsey Su in the Wall Street Journal. The people facing foreclosure would be much better served walking away from the negative-equity McMansions... More »

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housing market • foreclosure • mortgage • credit market • mortgage defaults

Freddie Mac to Let People Stay in Foreclosed Houses

Rental program aims
to stop evictions

Jan 30, 09 2:44 AM CST
(Newser) - Freddie Mac has forged a first-of-its-kind plan to allow homeowners and tenants to remain in foreclosed homes, USA Today reports. Residents will be charged a market rental rate on leases renewable monthly after their homes have been acquired by the lender. Freddie Mac expects the program to save thousands of... More »

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foreclosure • mortgage • rent • Freddie Mac • Fannie Mae • eviction • homeowners

 Jumbo Mortgage Defaults Soar 

Banks and investors brace for a new wave of defaults as jumbo loans default

Jan 28, 09 8:33 AM CST
(Newser) - Jumbo mortgages are now going south at an alarming rate, reports the Wall Street Journal, as affluent Americans face mounting layoffs and see their stock portfolios shrivel. Nearly 7% of prime jumbo loans—which average $750,000—were at least 90 days delinquent at the end of 2008, up from... More »

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foreclosure • mortgage delinquency • JPMorgan Chase • financial crisis • Jamie Dimon • jumbo mortgages

ANALYSIS

All Options on Table in Fight to Halt Foreclosure

Obama considering moratorium, gov't-sponsored refinancing

Jan 26, 09 8:54 AM CST
(Newser) - The Obama administration is considering plans to stem the tide of foreclosures ranging from doubling the mortgage interest deduction to a six-month foreclosure moratorium to government-sponsored refinancing, reports the Los Angeles Times. But a strategy is still at least several weeks away and, regardless of what bandages are applied, “... More »

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foreclosure • mortgage • credit crisis • housing crisis • Obama administration • financial crisis • refinancing • President Obama

OPINION

No Silver Bullet for Crises Like These: Pearlstein

Complex financial system requires complicated fixes ... and lots of patience

Jan 23, 09 11:22 AM CST
(Newser) - With various factions blaming a single factor—and pushing a single solution—for the financial crisis, Steven Pearlstein of the Washington Post cautions that there won’t be a silver bullet. Reducing foreclosures, removing toxic assets, and nationalizing banks will all come into play; meantime, we must “resist the... More »

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foreclosure • mortgage backed securities • subprime crisis • financial crisis • recapitalization • Steven Pearlstein • toxic assets

 Foreclosures Soar 81% 

States where property prices spiked during boom now seeing highest foreclosure rates

Jan 15, 09 6:05 AM CST
(Newser) - Foreclosures rocketed 81% in the US during 2008, affecting one of every 54 households in the nation, reports Reuters. A total of 3.2 million foreclosures were filed, according to research firm Realtytrac. The hardest-hit states were Nevada, Florida, Arizona, and California, the same states where property prices surged the... More »

MORE ABOUT:
real estate • foreclosure • mortgage • property • mortgage loans • homeowners

Scamsters Cash In on Foreclosure Crisis

Phony rescuers collect big upfront fees from desperate homeowners

Jan 15, 09 3:44 AM CST
(Newser) - A new breed of crook is getting rich preying on homeowners desperate to fend off foreclosure, the New York Times reports. Scamsters set themselves up as "foreclosure rescue companies,” collect big upfront fees for the promise to modify loans, then do little or nothing to help. Some people... More »

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fraud • foreclosure • mortgage • debt • housing • scam • mortgage loans • loan • homeowners • recession depression

(Newser) - The Wall Street bailout has not failed, but it hasn’t worked yet, either, as evidenced by the renewed call from Barack Obama and the Fed to release more TARP funds, the New York Times reports. Banks that received bailout funds are clamoring for more to stabilize their finances,... More »

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Barack Obama • Ben Bernanke • Citigroup • Federal Reserve • foreclosure • taxpayers • Wall Street bailout • President Obama • TARP

Senate Homeowner Aid
Moves Big Step Closer

Citi drops opposition to Senate proposal

Jan 9, 09 9:02 AM CST
(Newser) - A Senate plan to help struggling homeowners keep their houses moved closer to fruition yesterday as Citigroup ended its opposition to the bill, the Wall Street Journal reports. The measure would allow so-called “cramdowns,” in which judges in Chapter 13 bankruptcy cases could set lower principal and interest... More »

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Senate • foreclosure • mortgage • mortgage rates • mortgage debt • Dick Durbin • refinanced mortgages

OPINION


 Quinn: Don't Wait 
 to Go Bankrupt 

It's an embarrassment, but it offers a 'fresh start'

Jan 5, 09 11:25 AM CST
(Newser) - Your new year should be a “fresh start”—and if that means filing for bankruptcy, so be it, writes Jane Bryant Quinn in Newsweek. “If you're reaching the end of your rope, don't try to hold on. Save what you can,” Quinn says. Many families try... More »

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personal finance • bankruptcy • foreclosure • asset management • financial crisis

ANALYSIS

Targeted in Bubble, Latinos Now Face Foreclosure Flood

Push to get subprime, other risky mortgages to Hispanic community backfires

Jan 5, 09 9:35 AM CST
(Newser) - The US housing crisis has hit particularly hard in the Latino community, the Wall Street Journal reports, which was targeted by both lawmakers and lenders—often with subprime and other risky mortgages—during the bubble. Hispanic homeownership swelled 47% between 2000-2007, and the foreclosure crisis has hit hard for many... More »

MORE ABOUT:
housing market • subprime mortgages • foreclosure • subprime crisis • financial crisis • Hispanics • reverse red lining • Joe Baca

 Foreclosed Pools 
 a Mecca for 
 Skateboarders 

Pool builders hard hit by housing crisis

Dec 29, 08 8:12 AM CST
(Newser) - Skateboarders in California are making the most of the mortgage crisis: they’re turning the swimming pools at foreclosed homes into skate parks. Tracking local foreclosures, one Fresno skater arrives at empty homes with a pump and buckets, drains the pools, and hops on his board, the New York Times ... More »

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foreclosure • mosquito • housing crisis • swimming pool • skateboarding

At-Risk Owners Pay Big Bucks to Mortgage Modifiers

Some take advantage of patchwork laws, charge for services non-profits offer for free

Dec 26, 08 10:44 AM CST
(Newser) - A growing mortgage-modification industry has cropped up amid the housing bust, the Washington Post reports, charging homeowners thousands to help them negotiate better loans. The problem? Non-profit groups already offer those services gratis. “It is very frustrating to find a homeowner who has paid a for-profit company $3,000... More »

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foreclosure • mortgage • nonprofit • Housing and Urban Development • refinanced mortgages • mortgage delinquency • financial crisis

Spiritually Sound, But Many Churches Literally Bankrupt

Donation lifeline dries up as recession bites, forcing many into Chapter 11

Dec 23, 08 12:16 PM CST
(Newser) - In trying times, many turn to the church to ease anxieties, but even houses of God haven’t been spared the wrath of recession, the Wall Street Journal reports. A church building boom begun in the 1990s has left many congregations overextended, and with the economic slowdown taking a sizable... More »

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religion • foreclosure • church • mortgage defaults • churches • financial crisis

 Pets Are Losing Homes, Too 

Recession sparks rise in animal abandonment

Dec 16, 08 2:29 PM CST
(Newser) - Animal shelters are being filled with pets abandoned because of the recession and home foreclosures. In Massachusetts, a rescue league has seen a 45% jump in owners citing money or housing problems when they surrender a cat or dog. Others are just leaving their pets on the streets or in... More »

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pets • foreclosure • recession • horse • US economy • abandonment • animal shelters • financial crisis • recession depression

 Fannie Mae: Tenants Can Stay 

Fannie Mae won't evict tenants after  foreclosures

Dec 15, 08 4:22 AM CST
(Newser) - Fannie Mae is offering to sign new leases with renters living in properties that have been foreclosed and are now owned by the the government-controlled mortgage company. The move brings relief to thousands of people caught in the mortgage crisis, but it turns the insitution into a huge national landlord... More »

MORE ABOUT:
Bank of America • subprime mortgages • foreclosure • Freddie Mac • Fannie Mae • mortgage defaults • JPMorgan Chase • evictions • tenants • renters • National Community Reinvestment Coalition • Federal Housing Finance Agency

61 - 80 of 205 Stories | << Prev 1 2 3 4 5 6 7 8 ... 11 Next >>


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