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Democrats, Bush Square Off Over Housing Relief
President Resists Wide-Scale Assistance
Now that the Federal Reserve has pledged billions of dollars to rescue Wall Street bankers from possible default, lawmakers and regulators are turning their attention to helping average citizens — from homeowners in danger of foreclosure to people who want to buy a home.
But unlike the Fed’s rapid moves last week to […]
Housing crisis cools off growth
Torrid population growth rates in Sun Belt metropolitan areas from Florida to Arizona, Nevada and California have slowed amid a severe downturn in the nation’s housing market, according to a USA TODAY analysis of Census Bureau data released today.
“It’s really a slowdown in places with superheated housing markets that were almost out of control in […]
The Affluent, Too, Couldn’t Resist Adjustable Rates
They took out adjustable-rate mortgages at the peak of the housing bubble to buy homes they would otherwise not be able to afford. Or they refinanced existing mortgages to take cash out. And now, two or three years later, the day of reckoning is here.
These are not lower- and middle-income borrowers, but more affluent consumers […]
Foreclosed Homes: A Local Blight
The peach-colored house in a modest subdivision near downtown Modesto, Calif., used to be someone’s dream home. But it stands out in a row of similarly hued homes where many have a “For Sale” sign planted in their front yards. The two-story appears battered: its address has been scratched on a front panel and weeds […]
Foreclosure crisis has ripple effect
The mortgage foreclosure crisis has caused a drop in cities’ revenues, a spike in crime, more homelessness and an increase in vacant properties, a survey of elected local officials out today shows.
About two-thirds of 211 officials surveyed by the National League of Cities reported an increase in foreclosures in their cities in the past year, […]
Bill Would Set Foreclosure Moratorium
The Bush administration recently announced a plan to delay foreclosures for some troubled homeowners for 30 days. Senator Hillary Rodham Clinton, in the race for the Democratic presidential nomination, has called for a 90-day moratorium on foreclosures.
But two state legislators have been quietly pushing for an even longer reprieve for homeowners in New York State: […]
Foreclosure Aid Rising Locally, as Is Dissent
SEATTLE — As the Bush administration and Congress consider proposals to ease the home foreclosure crisis, local governments across the country have been lending money to imperiled homeowners and confronting some opposition.
Some of these municipal and state efforts have met resistance from people who consider the assistance undeserved and adamantly oppose anything that resembles a […]
St. Lucie foreclosure tours put fresh spin on house-hunting; ‘It’s a buyer’s market’
PORT ST. LUCIE — After four months of house hunting, Tara MacDonald and family still were looking for a home to call their own.
“We’ve looked at 12 homes a weekend and put in offers, but nothing has panned out,” MacDonald said. “I’m just looking for a two-bedroom, two-bath house to start.”
So, the Port St. Lucie […]