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U.S. Program to Avert Foreclosures Called a Failure
Lawmakers branded a U.S Treasury-led effort to slow the rate at which distressed mortgage-holders are being thrown out of their homes as "an abject failure". The scathing review of Treasury's Home Affordable Modification Program, or HAMP, brought fresh promises from a...
Tendency to Walk Away from Underwater Mortgages
The government faces a new challenge: troubled borrowers are walking away from their homes in a move called voluntary foreclosure. Despite the fact that it erases away 100 points from the person's credit score, borrowers are acting like this because the value of their houses... Braving the Storm
Unlike their American neighbours, Canada's banking system has held up superbly during the global banking crisis. In fact, they even made a profit during the last quarter when most would agree market conditions were at their worst. This has unsurprisingly led to many world... Bear market trap
The terms bull market and bear market respectively describe upward and downward movements of a market over a prolonged period of time in which prices rise or fall faster than normal. The expressions "bullish" and... Subprime lending - Canada's dirty, little secret?
Does Canada have a dirty, little, subprime lending secret? Looks like it. As the U.S. financial sector began to crumble under the weight of subprime mortgage lending last fall, and so many regular Americans were... US Pledges $50 Billion to Fight Foreclosures, But Is It Enough?
The United States pledged $50 billion to fight off foreclosures in the face of "the worst economic crisis in generations" (Geithner) but it may not be enough. As the economy falls and more jobs are lost fear... Citigroup Aims to Rework Thousands of Mortgages and Foreclosures
Citigroup Inc. has announced its plan to aid borrowers in stopping foreclosures and reworking mortgages—a big step for the second-largest US bank based on assets. "Because of the said announcement, the bank is now the major US lender concerned in helping borrowers. In the... Foreclosure Crisis Update: Underwater Homeowners Reach 7.5 Million!
Reports show that the number of underwater homeowners is now 7.5 million and is alarmingly growing because owing more than the actual worth of the house is typically the first step to foreclosure. "Aside from this figure, about 2.1 million are also over the edge — that is...JP Morgan Chase Holds Foreclosures
JPMorgan Chase has stepped up its foreclosure help efforts as it announced last 31st of October its plan to address the foreclosure problem being experienced by the nation through freezing foreclosures for the coming two months and restructuring loans."The report of Business...Condos in Foreclosure Create Problems for the Association
In the last couple of years, the housing industry has been in very bad shape — thanks primarily to the growing number of foreclosed properties including condo units. For this reason, many condo associations are having problems involving fee collection. "National... JPMorgan Halts Foreclosures, Will Renegotiate Mortgages
Earlier in the jump in home sale and easing out the credit crunch in US has giving the sign of turnaround in housing market.It is further boosted by the act of JP Morgan halt of Foreclosures.This act wil spread... US Foreclosure activity rises 71 percent
The rate of foreclosure has risen 71% in the US this year, with nearly three quarters of a million homes under the gun. That number is expected to reach one million by the end of 2008.I had to read that number...
created by Jordan Yerman | 1 year ago | updated 1 year ago
56 views | 14 recommendations | 4 comments
56 views | 14 recommendations | 4 comments
