Foreclosure News and Information
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Feb. 19 (Bloomberg) — US Housing and Urban Development Secretary Shaun Donovan talks with Bloomberg’s Peter Cook about President Barack Obama’s foreclosure-prevention initiative. Donovan said the .5 billion initiative targets the housing markets that need it most and additional programs may be created. (Source: Bloomberg)
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Across the US, the number of forclosures has skyrocketed. This Collective Journalism group investigation puts a human face on those affected by the housing crisis.
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Feb. 11 (Bloomberg) — US foreclosure filings rose 15 percent in January from a year earlier and exceeded 300000 for the 11th consecutive month as modification programs failed to keep delinquent borrowers in their homes, realtytrac Inc. said. Bloomberg's Su Keenan reports. (Source: Bloomberg)
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Many poorer homeowners face loosing their homes in the global credit crunch, as variable mortgage rates soar. Al Jazeera’s Tom Ackerman met one home owner who faces foreclosure.
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The US housing crisis lies at the heart of the current recession, with a wave of forclosures sending Wall Street into a free fall as lenders were hit by hundred of billions of dollars in losses. A few months on, and the rate of foreclosures shows no signs of slowing down. In the town of Boise in Idaho, even some people with the most affordable housing are being forced to relocate, as Al Jazeera’s Tom Ackerman reports.
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