foreclosure: The Housing Sump is Over! What? - 10/06/09 07:08 AM
What? Haven’t you heard that the housing slump is over with? You must be seeing the same news reports I am. News reporters expounding that both the new and pending home sales are up. Come on everybody let’s jump in now before it is too late! For the past few months that’s all the news has been reporting; new home sales up over last month, pending sales up over this time last year. I think the news organizations need a realty check and should start reporting the figures as they really are. Although it is human nature to not want to … (0 comments)

foreclosure: Senate Defeats Anti Foreclosure Bill - 04/30/09 09:14 AM
Today the Senate defeated the anti-foreclosure bill 45-51/ The bill was intended to help homeowners keep their homes through the bankruptcy courts. In the bill was the so called cram down provision that allowed bankruptcy judges to reduce the principal on borrower's mortgages. This in turn would have put pressure on the loan servicers to modify the loans prior to borrower's filing for bankruptcy.
Although some analysts have been stating that foreclosure have been slowing, in fact today's report showed that servicers have begun 290,000 new foreclosure proceedings against borrowers. This is a record high in foreclosure filings since foreclosures had … (0 comments)