Foreclosure restricts future home financing May 27, 2008

Homeowners going through foreclosure today may have to wait five years before they are able to get financing for a home again.
That’s according to new federal guidelines from the Federal National Mortgage Association and the Federal Home Mortgage Corp., otherwise known as Fannie Mae and Freddie Mac.
And after those five years, a borrower would have [...]

North Side foreclosure upends lives May 23, 2008

Black garbage bags stuffed with possessions covered the lawn of the north Minneapolis apartment building as its suddenly homeless residents milled around wondering where they would go next. Neighbors tired of the drug dealing were happy.
Beds, chairs, tables and black garbage bags stuffed with possessions covered the lawn of the north Minneapolis apartment building, as [...]

save my home May 21, 2008

Any help from foreclosure bill too little, too late for Michigan
Given all the rhetoric about congressional attempts to help homeowners facing foreclosure, it’s hard to know whether the current plan is so pathetic it will help only a small fraction of people in trouble, or whether it’s so comprehensive it could drag down the federal [...]

save my home May 20, 2008

Bus tour gives people look at foreclosed houses
The white shuttle bus came to a stop and Damon Borozny joked to the passengers, “All right, time to scare the neighbors.”
Borozny, a product manager for an office supply business, was helping lead a new kind of tour for Atlanta — the home foreclosure tour.
A dozen people paid [...]

save my home May 19, 2008

Report: Nevada Has Highest Foreclosure Rate in Nation
A research company says more U.S. homeowners have fallen behind on mortgage payments in the last month.
Figures from RealtyTrac show that more than 243,000 homes received at least one foreclosure-related filing in April.
That’s up 65% from almost 148,000 in the same month last year and up 4% since March.
In [...]

mortgage foreclosure help May 16, 2008

Three Things That Won’t Help End the Foreclosure Crisis
Falling home prices, rising foreclosures rates, and a slowing economy have created a perfect storm for U.S. homeowners.
Falling home prices, rising foreclosures rates, and a slowing economy have created a perfect storm for homeowners who bought in bubble-inflated markets, or used subprime, adjustable-rate mortgages to purchase [...]

save my home May 15, 2008

The face of foreclosure

Imagine having just 10 days to move out of a house you’ve lived in for nearly 40 years.
That’s what happened to 78-year-old Misa McKern. Wednesday was the final day for her to pack up everything after her house was sold at a foreclosure auction.
“I feel awful,” she said.
McKern was blindsided on May [...]

foreclosure options May 14, 2008

Editorial: Bush, Congress must act to quell foreclosure crisis
Home foreclosures are surging. Housing prices are sinking. And the broader economy is sputtering.
That should galvanize Congress and the president to deal aggressively with the mortgage crisis that’s hobbling the economy. But Democrats and President Bush are at odds over what to do.
Last week, the House passed [...]

mortgage foreclosure help May 13, 2008

Mortgage in trouble? How Congress wants to help

Should Uncle Sam insure mortgages? That’s the big debate. But the devil is in the details and nobody is talking about them. Here’s how the plan would work.
Politicians in Washington are busy arguing about the financial and moral hazards of coming to the aid of troubled homeowners.
But overshadowed [...]

foreclosure help May 12, 2008

State Senator Pushes Foreclosure Legislation

One state lawmaker pushed legislation yesterday to make sure foreclosed homes do not end up ruining the neighborhood.
State Senator Jeff Klein says the lending institutions that foreclose on properties should be responsible for making sure those properties are maintained. Klein released a report that found more than 3.5 million homes in [...]