Third Quarter 2009 Foreclosures at an All Time High
An improving economy
The media and Uncle Sam want us to believe that times are getting better and that we are crawling out of the recession. In fact, there are some economic indicators that the economy is starting to come around.
The last few weeks have provided an increase in consumer spending, [...]
Consumers Are Using Installment Loans To Buy Cars
Car buying
Consumers are once again turning to installment loans as they move back into car-buying mode. Throughout the recession, many people have put off purchases of big-ticket items such as cars and homes. Dealers all over were feeling the crunch of the economy as many people fell into the unemployment [...]
Foreclosure Filings Not Easing Up
More homes seized in February
It appears President Barack Obama’s foreclosure prevention plan came too late for some. Foreclosures in February this year were 30 percent higher than last year. A total of 290,631 homes received a default or auction notice, and that includes 161,976 households that were notified for the first time, [...]
Can County Be ‘Disaster Area’ from Man-Made Disaster?
Unnatural disaster strikes
A Florida county that has been particularly hard-hit by the housing crisis is seeking “disaster area” status.
In St. Lucie County, thousands of homes stand vacant or unfinished. A county commissioner believes the crisis has reached disaster proportions. If the county is declared a disaster area, it could receive [...]
Martin Eakes Wants a Medal, Deserves Skepticism (Pt. 1)
20/20 subprime-sight
Martin Eakes of the Center For Responsible Lending recently distributed a press release in which he reacts to President Obama’s plan to fix the housing crisis that plagues America. Nothing like damage control for the image after your business was directly involved in causing the subprime mortgage crisis to [...]
Citigroup Program Helps Unemployed Homeowners
Bank temporarily reduces payments
Citigroup Inc. has stepped up to the plate when it comes to helping out people who are joining an ever-larger category: the unemployed.
The bank has started the Homeowner Unemployment Assist program, which allows unemployed mortgage holders who are late on their personal loans to make payments of [...]
CEO to Resign from Mortgage Giant Freddie Mac
Successor to be named by March 13
Only six months after being appointed CEO of Freddie Mac, David Moffett says he will step down from his position.
Moffett was placed in the chief executive position in September, after the government took over the flailing mortgage finance company. Moffett says he will resign [...]
Home Prices Still Falling | No Credit Check Payday Loans
U.S. continues to break records
Homeowners who lost their homes or fell behind on mortgage payments may be comforted to know that no credit check payday loans can help them in times of financial crisis. However, homeowners who are still paying off their houses probably won’t like what I have to [...]
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