Many feel the foreclosure epidemic is showing no signs of slowing down. As millions of Americans find themselves under water with their mortgages, some organizations and leaders are trying to help. Facing foreclosure is stressful, but there are ways to avoid it. There are several free seminars planned … [Read more...]
Father Abandons Son After Foreclosure
August 27, 2011 By Leave a Comment
A depressed, out of work architect facing foreclosure left his Minnesota home, leaving his 11-year-old son behind. According to the Pioneer Press, Sebastian Cross woke up last month to an empty home and two notes his father had written. The newspaper printed this portion of one of the letters: "To … [Read more...]
Tables Turned as Bank Gets Foreclosed
June 6, 2011 By Leave a Comment
Score one for homeowners. The tables turned on Bank of America after a Florida couple says the lender filed foreclosure papers against them. The problem? The couple had paid cash for their home. The case went to court and a judge in Collier County ordered Bank of America to pay the couple’s legal fees. … [Read more...]
Protestors Blast Bank of America Foreclosures
May 13, 2011 By Leave a Comment
Some protestors came out to Bank of America's annual meeting in Charlotte this week. Outside their headquarters several people held signs and shared their foreclosure stories, according to the Associated Press. Shareholders had the chance to confront Bank of America's CEO Brian Moynihan about mortgages … [Read more...]
South Korea’s Household Debt Raises Concerns
May 3, 2011 By Leave a Comment
Is South Korea following in America's footsteps when it comes to household debt? South Korea's central bank recently announced plans to help citizens there with large amounts of debt by changing monetary policy. The new rules would discouraged additional borrowing. "To guide a soft landing in household … [Read more...]
Federal Reserve’s Assets Saw New Increases
October 6, 2009 By Leave a Comment
The Federal Reserve has experienced its sixth week of increased balance sheet totals since it purchased housing debt as part of a special program focused on mortgage rate reduction. … [Read more...]
Morgan Stanley Will Not Issue More FDIC-Guaranteed Debt
July 9, 2009 By Leave a Comment
It seems that Morgan Stanley is planning to cease any new sales of FDIC-guaranteed debt, and declining a government subsidy following approval to repay $10 billion to the U.S. Treasury. … [Read more...]