Archive for December, 2008
Job Losses Rise, Home Prices Fall as Foreclosures RiseDecember 16th, 2008
Largely as a result of the continued decline of the housing market and flood of foreclosures, the nationwide unemployment rate has increased from 6.5 percent in October to 6.7 percent in … More >>
As Foreclosure Expands, Resale Prices PlummetDecember 15th, 2008
The increase of home sales in areas where prices are down is logical. In Merced, home prices plunged by 43.2 percent to $130,300. The county is the most inexpensive market in California. … More >>
Drop in Lending Rates Expected to Boost Sales of Foreclosed HomesDecember 13th, 2008
The announcement of the Federal Reserve that it plans to spend about $600 billion to purchase mortgages has resulted to a drop in loan rates and improved home affordability, which many … More >>
Foreclosure Further Brings Home Prices Down by 5.7 PercentDecember 12th, 2008
IHS Global Insight announced that the housing value this third quarter of 2008 falter faster nationwide. Home prices depreciate at a 6.9 annual rate touching 241 of 330 metropolitan areas. … More >>
Foreclosures in Miami Plunge for a WhileDecember 11th, 2008
Despite the sudden decline in Miami foreclosures this November, experts say this is not an indication for any promising trend that would put an end to the housing crisis. A number of … More >>
Lenders Freeze Foreclosures But It is Still Not a Happy HolidayDecember 11th, 2008
Last month some financial organizations promised to delay foreclosures for the holidays. JPMorgan Chase (JPM) promised not to add loans into foreclosure process in the next 90 days. They … More >>
Experts Said Lower Mortgage Rates Not Enough to Abate ForeclosuresDecember 11th, 2008
Several federal government agencies are trying all avenues to lower mortgage rates to an unprecedented rate of 4.5 percent to abate the surge of foreclosures and hopefully strengthen the … More >>
State Legislators Urged to Pass Bill for Homeowners’ Protection from ForeclosuresDecember 10th, 2008
Predatory practices in home loans and mortgages have lured thousands of hapless residents in Michigan, which eventually resulted to foreclosures, with families forcibly thrown out of their … More >>
Key Elements to End the Crisis on ForeclosuresDecember 9th, 2008
The crisis on foreclosures became the catalyst for the global financial crisis. No substantial program has been established yet as debates rages on as to what approach would be effective in … More >>
Habitat for Humanity Set to Help Rehabilitation Program for ForeclosuresDecember 9th, 2008
On April 1 next year, approximately $19 million of federal funds from the Neighborhood Stabilization Program will go to the tri-county area of Florida composed of Sarasota, Manatee and … More >>
