There has been a lot of talk about inflation, depression and recession lately. It’s no secret that times are tough. As a whole, people are afraid, uncertain and pessimistic about the future. All you need to do is flip on a news program, surf the Internet or stand at the water cooler for two minutes to hear [...]
With mortgage foreclosures at an all time high, major banks across the nation have begun offering loan modification programs for people who are in danger of losing their homes to foreclosure. While eligibility for loan modification programs differs from one bank to the next, the common goal of these programs is to restructure existing mortgage loans [...]
If you are facing foreclosure and cannot work out a deal or other alternative with the lender, bankruptcy may help. Filing bankruptcy can stop foreclosure on your house and allow you to effectively make payments to catch up on missed payments of your mortgage.
When you file either a Chapter 13 or Chapter 7 bankruptcy, the court [...]
As the recession drags on and unemployment rates continue to rise, an increasing number of people are suffering a sort of “recession depression”. People are facing the effects of the credit crunch with mounting debts and the fear of losing their homes.
Being proactive is the best way to tackle any crisis. First, take a deep breath. [...]
The nation’s mortgage melt down has evolved into America’s real estate crisis amid falling home prices, record foreclosures and weakening consumer confidence. This threatens to produce the nation’s worst economic disaster in history. Do economists and the government know how to prevent further hardship, or are they on a wild goose chase funded by our tax [...]
Most Americans have been affected by the present difficult economy and are struggling to make ends meet. If you are among the many families coming up short every month, you may be tempted to borrow more to get those things you feel you must have. As difficult as it may get, don’t fall into this trap, [...]
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One day after signing his economic stimulus package, President Obama releases his plan for mortgage relief. The continued decline of the stock market shows the lack of confidence in the government plans.
NEW YORK – Wall Street extended its decline Wednesday after President Barack Obama released details of his $75 billion mortgage relief plan.
The plan is designed to [...]
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President Barac Obama is visiting Fort Myers, Florida, where the foreclosure rate is the highest in the nation as Treasury Secretary Geithner announces devoting $50 billion of stimulus to home foreclosures.
WASHINGTON (Reuters) – The Treasury on Tuesday unveiled a revamped financial rescue plan to cleanse $500 billion in spoiled assets from banks’ books and support [...]
Up to this point, the federal government has seemed to have, ”miss the boat”, when it comes to repairing the country’s economic woes. Apparently you have to be behind in mortgage payments to benefit from the latest proposed foreclosure bailout.
WASHINGTON – With foreclosures spiking, the Federal Reserve is taking steps to try to keep some distressed borrowers [...]
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If you are one of the millions of Americans facing foreclosure, you sure aren’t alone. On a national average, it is said that 1 in 54 homes in the United States are in foreclosure. If you live in harder hit areas such as Florida, the ratio is 1 in 22. Now that the situation has [...]
