News of the housing market's economic temper may have gotten to the nerves of major banks. Citigroup Inc has now joined the ranks of lenders who have established programs to help their borrowers.
A Florida lawmaker is facing foreclosed home for sale because he defaulted on his loan for more than a year now. Fresen explained that he is a victim of the financial crisis and haphazard record keeping by his lender.
With delinquencies in mortgage payments and foreclosures on the rise, a New York bank decided to step up and assist customers having difficulties in payments by offering modifications in their mortgage program through adjustable rates.
BankAtlantic and BankUnited have announced a moratorium on their foreclosure activities as they await the Obama Administration' recovery program for the housing market.
The effect of the high number of foreclosed homes for sale in Detroit was made worse by a recent wildfire that burned properties and added to the number of vacant homes in neighborhoods.
JPMorgan Chase has decided to place servicers in its various mortgage centers and branches to work with housing counselors in helping distressed homeowners prevent repo homes.
President Obama travels west to promote his $787-billion economic recovery package, which includes billions of dollars to help homeowners in danger of foreclosure.
According to a recently released report, Salt Lake City came in at the seventh position when it came to cities with the most number of filings for foreclosures in the country.
As America's rate of foreclosures continues to climb, big banks successfully stonewall Congressional efforts to resolve the snowballing housing crisis.
The government has taken the initiatives to assist people in their foreclosures. But if the stock market would be the basis, the said initiatives are not just enough.
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