Recent REO News and Articles

Those Blacks who have equity but are poor in cash have been the worst hit by the housing crisis. The stimulus is not helping in slowing down foreclosures for them. Loan analysts studying modifications say that the stimulus money has not helped them – rather it is the predatory lending entities [...]

Stuyvesant Town and Peter Cooper village complexes are in trouble. One hedge fund entity has taken over a major share of their debts and is now trying to take over control. This step will create snarls in an already complex financial and political set up involving the biggest apartment units in [...]

The US economy is on a tailspin what with unemployment at an all-time high. As people losing jobs thick and fast, even those with very sound credit history are faltering on mortgage payments. Hence, banks are taking over these properties and foreclosures have become common.
Now the Federal government has come up [...]

A developer from St. Charles who is also a mortgage broker together with a woman from St. Louis has been accused on multiple counts for fraud in mortgage matters. Jeremy Beadle (37) of Network Ventures – an enterprise that dealt with mortgages and brokerage of properties also dealt with the fixing [...]

Obama has taken $1.5 billion from bank bailout funds to help borrowers facing foreclosures. The President credited the majority leader of the Senate Harry Reid for helping to avoid a depression by putting forth a mortgage plan of $1.5 billion. It would be diverted to those states that have endured the [...]

Foreclosures and allied trouble of unemployment continue to plague the Blacks in Minnesota as stimulus dollars continue to elude them. The AARA or American Reinvestment and Recovery Act put into play $50 billion to construct and maintain roads, bridges, port and railways of the country so as “to preserve and create jobs” as well as [...]

The US economy is on a recessionary mode. Unemployment is at the peak level of 10 per cent. As people lose jobs even those with excellent credit history are faltering on mortgage payments. Subsequently, banks are taking over the properties. Hence, foreclosures have become common.
Economists are of the opinion that [...]

Politicians and the media are trying to convince themselves and others that the real economy is on the path to recovery. There is reference to “green shoots” by Bernanke and Obama is seeing “glimmers of hope”. The massive pouring in of dollars as stimulus and bailouts is targeted to take back [...]

Cruising down the streets of Detroit the scars from the foreclosure and auto crisis are visible. The blight continues. There are bold For Sale sings across shuttered shops. Work is still going on in some factories but the small number of cars parked in the lots testifies to the meager work [...]

The foreclosure crisis has blinded the view of many – they cannot see what is straight in front. The politicians and the media are ceaselessly talking about continuing foreclosures and unemployment. There is still now a reluctance to concentrate on exactly who are suffering from this mayhem.
In the employment sector there [...]