Category Archives: Mortgage Foreclosure
In Foreclosureville, USA, so much change
Record year for foreclosures as unemployment rises
A record 2.8 million households were threatened with foreclosure last year, and that number is expected to rise this year as more unemployed and cash-strapped homeowners fall behind on their mortgages. » Read more…
HUD acts to speed foreclosed properties resales
The U.S. government is taking action to speed the resale of foreclosed properties by temporarily expanding access to Federal Housing Administration mortgage insurance, U.S. housing officials said on Friday. » Read more…
Home sales likely fell in December
Last month’s sales of previously occupied homes are expected to be down sharply from November after prospective buyers were granted more time to take advantage of a tax credit. » Read more…
No help in sight, more homeowners walk away
In 2006, Benjamin Koellmann bought a condominium in Miami Beach. By his calculation, it will be about the year 2025 before he can sell his modest home for what he paid. Or maybe 2040. » Read more…