|
|||||
|
Will the Federal Reserve’s rate cut revive the housing market and stem foreclosures? Don’t count on it. The Fed’s interest rate cut is largely symbolic. It makes more funds available to depository institutions — old-fashioned banks — but old-fashioned banks aren’t where the crisis is centered. The Fed’s move will do little for what . . . → Read More: Lower Mortgage Rates Won’t Stem Foreclosures Arguably the most influential television news magazine, 60 Minutes, last night spent more than 15 minutes — an eternity in television — focusing on the so-called Subprime Meltdown. The town they chose to use as a backdrop not surprisingly was Stockton, Calif., which ranked No. 1 in terms of nationwide metro foreclosure rates in . . . → Read More: Stockton Foreclosures in National Spotlight In what may end up being a precedent-setting test case, the Star Tribune is reporting that a northern Minneapolis neighborhood is suing CitiMortgage over a foreclosed property that has remained vacant, alleging that the deteriorating state of the property is bringing down their property values….(read more) More: continued here . . . → Read More: Angry Neighbors Take Lender to Court More than 2.2 million foreclosure filings on nearly 1.3 million properties. A 75 percent increase in foreclosure activity from 2006. Those are the headlines from RealtyTrac’s 2007 year-end foreclosure report. But there’s more to the story. …(read more) More: continued here |
|||||
|
Copyright © 2012 Foreclosures and Debt - All Rights Reserved |
|||||
