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Federal Homes Affordable Programs in NY Gets Funding
Congresswoman Nita Lowey has announced funding to support federal homes affordable programs in several counties in New York. A government agency will also provide grants for housing counseling services. " Several...Cash Aid to Help Homeowners and Reduce Foreclosure Rates
Distressed borrowers in Connecticut will get housing assistance in an effort to help them remain in their properties and reduce the growing foreclosure rates in the state. A $100,000 cash donation was made by a...Housing Project Faces Foreclosure Crisis
A downtown housing project in North Carolina has become one of the latest victims of the foreclosure crisis. The subdivision was taken over by its lender after its developer missed payments on an almost $6 million loan. " A housing project in downtown Belmont in North...Homeownership Dropped Due to Denver Bank Foreclosures
Census data showed that homeownership in Colorado dropped despite the increase in incomes. Industry experts said that the increase in the number of Denver bank foreclosures contributed to the decline in homeownership. " The increase in the number of Denver bank foreclosures...Repo Homes for Sale Dominate the Market in Alabama
The number of repo homes for sale continues to rise in Alabama. According to a study, most foreclosures happened on modestly priced houses. " The growing foreclosure crisis in the country has spread to the Alabama...Foreclosed Home for Sale in Shasta County As Filings Rose in July
The number of foreclosure filings in a California county rose last month. The increase in numbers is expected to fuel foreclosed homes for sale activity in the area."Last month, foreclosure activity in Shasta County, California perked back up. Foreclosure filings in the...Growing Number of Renters Affected by REO Properties Crisis
Tenants' advocacy groups said that national legislation that include some protections for renters evicted from REO properties are not enough to address the growing problem. The new rules require lenders who are about to foreclose on a property to allow tenants to stay for at...Twin Cities Hold Classes on Foreclosed Homes for Buyers
A rising number of first-time homebuyers have been attending homeownership classes in Minneapolis and in Saint Paul. As the number of foreclosed homes available for sale increases in the area, nonprofits have been...
Dogs and Cats Forced Out of Repo Homes
Dogs, cats and other pets are also becoming homeless as the number of repo homes continue to increase. Area shelters for animals have been overwhelmed with pets being given away by distressed homeowners. " Dogs and... Federal Rescue Fail to Save Spread of Repo Homes
The increasing number of repo homes continue on its upward climb despite the U.S. Federal Reserve’s pledge to purchase over $1 trillion bonds and the flock of borrowers who applied for home loan mortgages. " The latest effort of the federal government to revive the ailing...Stop Blaming, Help Owners of Foreclosed Homes
It is time for government officials and critics to stop blaming various groups for the foreclosure crisis. It is time for supporting Obama’s program to enable it to help Americans save their dwellings from becoming foreclosed homes. " As more than 100 houses in the Chicago...Billionaire Buffett: Worst Economic and Foreclosure Crises
The United States economy will get worse before it gets better is how Warren Buffet, the second richest man according to the October 2008 issue of the “Forbes” magazine, viewed the current economic scenario. He cited as indications of the worsening economic situation the...Obama to Launch Foreclosure Plan in Phoenix
President Barack Obama is set to travel to Phoenix, Arizona to launch his foreclosure program. Phoenix was probably chosen because its housing market has been one of the most adversely affected by the credit...Fed Governor Duke Admonishes Bankers
In a prepared statement to the American Bankers Association (ABA), Federal Reserve Governor Elizabeth Duke called on banks to act more responsibly to prevent another bank-related crisis in the future and to take...Obama Expected to Sign Recovery Plan to Address Foreclosure Cr...
The U.S. Congress has passed the $787 billion economic recovery plan which is expected to include provisions to bailout banks to boost credit flow and reduce the number of foreclosed homes. " President Barack Obama has called Congress’ decision to pass the stimulus bill as...
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