Tag Archive: foreclosures
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Swift Steps Help Avert Foreclosures in Baltimore
BALTIMORE — When Wilbert and Patricia Savage missed two mortgage payments on their tidy row house here last fall, Mr. Savage, 75, despaired that they could ever catch up.
But he remembered Roy Miller, a nonprofit housing counselor with a nearby storefront office who had helped other neighbors in trouble. The Savages visited Mr. Miller, and […]
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 […]
Fed Chief Urges Breaks for Some Home Borrowers
WASHINGTON — The chairman of the Federal Reserve, Ben S. Bernanke, urged mortgage lenders and investors on Tuesday to reduce the principal on loans for many people whose homes are no longer worth as much as the amount they still have to repay.
Noting that delinquency and foreclosure rates have soared over the last year, and […]
Confronting a Wave of Foreclosures
WITH more than 20,000 subprime mortgages in Connecticut scheduled to reset to higher interest rates over the next two years, the wave of foreclosures currently flooding court dockets throughout the state represent the early stages of what could be a protracted deluge. While foreclosures are up all over the state, the region hit hardest so […]