Americans lost $192.6 billion in wealth, or an average of $1,700 per household, last year due to foreclosures, according to a report released Thursday by the Alliance for a Just Society, a coalition of progressive grassroots organizations across the country. The report also
After the housing collapse of 2008 sent the economy into a downward spiral, the focus turned to housing finance reform.
The mortgage market is almost entirely backed by the government after the housing crisis led to the takeover of the two mortgage giants Fannie Mae and Freddie Mac in an attempt to stabilize the housing market. Meanwhile,
Lisa Brumfiel at her home in Aurora after her hearing in federal court to stop the foreclosure proceeding. (Joe Amon, The Denver Post)
A federal judge Tuesday formally stopped the foreclosure auction of an Aurora woman's house, leaving unanswered whether he can determine whether a part of Colorado's foreclosure laws is unconstitutional.While U.S....
Freddie Mac recently announced it is making its new Streamlined Modification program immediately available to all eligible borrowers nationwide in order to expedite financial relief for potentially thousands of distressed families. Freddie Mac’s Streamlined Modification program had originally been scheduled to start on July 1, 2013.
Oregon homeowners who are behind on their mortgage, but who could afford their monthly payments if made current, have one last chance to apply for a federally funded program to help them avoid foreclosure.
Loan Preservation Assistance program
For: Oregon homeowners behind on their mortgage, but who can afford monthly payments
This announcement and the increasing number of those like it represent what's very likely the front end of a massive unloading of home loans from big banks like Bank of America, Chase, and Wells Fargo to a new wave of non-bank investment firms focused on servicing "distressed" accounts.
By Erik Kancler of Bend, Oregon.Erik works in government and
There may be no government action more universally reviled in the U.S. than bank bailouts. Republicans and Democrats, financial industry lobbyists and watchdogs, Wall Street executives and President Barack Obama say taxpayers should never again rescue a failing bank.
To make sure a future crisis won’t force governments to intervene, international r