There was an interesting article on www.realytrac.com in mid October that I have to tell you about. It was about the variance between the number of homes on which foreclosures have been finalized and the number which have been listed for sale. In normal times a mortgage company will normally have a home listed for [...]
If you look at the September report of the Making Home Affordable Modification Program you will see that Wachovia Mortgage only has authorized trial modifications on 2.7% of the estimated loans that they have which are eligible for such modifications. The estimate is that they have 75,074 loans eligible for a modification. Trial modifications have [...]
Just because a state passes a law which looks like it will help people facing foreclosure does not mean that the law will actually do that. That is what has happened in New York. Let Me Tell You About It In August of 2008 a law was passed in New York. This law created a [...]
At the end of September I read an article about the impact of this recession on the people in the United States. Middle Income and Poorest Families Hardest Hit The article reported that the middle income and poorest families have been hardest hit by the recession. It went on to say that the gap between [...]
This foreclosure crisis is impacting many people in different ways. Those hardest hit are the elderly who suddenly find themselves facing foreclosure. They are on a fixed income and quickly realize that there is no way that they will be able to continue to pay their mortgage. Worry Consumes Them They worry about what will [...]
