July 15: The Fed adopts a plan to curb shady mortgage practices. Lax lending standards during the heady days of the housing boom ended up burning the riskiest “sub-prime” borrowers—people with tarnished credit or low incomes—because they got ..., more
and Find solutions; avoid foreclosure at all cost - News-Press Losing one’s house to the bank can be the ultimate mark of shame in a person’s life. Americans have been brought up to believe that debts should always be paid and that not doing that is inexcusable. Despite this ethical tradition, the nation is ..., more
and Lenders' latest foreclosure strategy: waiting - Herald Tribune Across Florida, tens of thousands of foreclosed homes are being left in limbo, between homeowners who have abandoned them and banks that have not yet taken possession of them. Over the past year, banks and other lenders have canceled up to 50 percent ..., more
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