Foreclosure News

Six men caused nearly 300 Indianapolis mortgage foreclosures by fraudulently selling homes at prices significantly higher than they were worth, according to charges announced by authorities. via ClipSyndicate

“This is a step in the right direction”

Americans with mortgages exceeding the value of their homes face long odds of getting help under an expanded Bush administration program aimed at helping distressed borrowers. via Peninsula Clarion

“The survey demonstrated that graduating high school seniors continue to struggle with financial literacy basics”

Young people's financial know-how has gone from bad to worse. High school seniors, on average, answered correctly only 48.3 percent of questions about personal finance and economics, according to a nationwide ... via 2NEWS.TV

“Risks related to inflationary pressures have risen”

The world economy will slow sharply this year, according to an International Monetary Fund forecast, with the United States sliding into a recession amid housing, credit and financial slumps.

The IMF, in a World Economic Outlook released Wednesday, slashed growth projections for the United States - the epicenter of the woes - and the global economy as a whole.

Economic growth in the United States is expected to slow to a crawl of just 0.5 percent this year, which would mark the worst pace in 17 years, when the country last suffered through a recession, the IMF said. The United States won't fare much better next year; the IMF projected the U.S. economy will grow by a feeble 0.6 percent in 2009. Read more

It's touted as easing the foreclosure crisis and boosting demand for housing, but critics warn that a bill before the Senate might actually encourage foreclosures and drive down house values. via New York Sun

“Exports are providing the one real source of growth in the economy”

It was the dot-com bubble that sparked the last recession in the United States in 2001. via Hispanic Business

“From our perspective, this cannot be enacted soon enough”

The state House of Representatives took steps Tuesday to ease the financial crunch that has left thousands of families scrambling to avoid losing their homes. via WPVI-TV Philadelphia

“This is not half a loaf, this is a crumb.”

Democrats are split over how to respond to the housing crisis, with House leaders focusing on helping homeowners facing foreclosure while the Senate moves to take care of businesses impacted by the subprime ... via Lansing State Journal

The Maryland General Assembly ended its legislative session Monday at midnight. Here's a look at some of the key legislation passed. via WUSA9.com Washington, DC

“My only advice to [Congress] is, one, make sure you give the pro-growth package that was passed overwhelmingly a chance to work, see what the effects are”

The Senate on Tuesday is expected to pass a package of housing measures intended to stabilize the housing market. via SI.com

“The cooperative management/ownership structure is not conducive to merger/joint activity to begin with”

By Patrick Rucker Reuters Monday, April 7, 2008; 11:09 AM WASHINGTON - Merger talks have ended between the U.S. Federal Home Loan Bank of Dallas and its sister bank in Chicago, they said on Monday, after more ... via The Washington Post

Lawmakers have postponed a hearing on a bill to clamp down on foreclosure fraud.

The House Business Affairs and Labor Committee had planned to take the bill up on Monday. The hearing hasn't been rescheduled.

The bill would allow property owners to negotiate the terms of a voluntary surrender of their property.

It would also expand the definition of criminal equity skimming to include collecting rent from a tenant after a house has been foreclosed on and sold. Read more

Critics say a bill designed to help ease the foreclosure crisis and boost demand for housing may actually encourage foreclosures and drive down house values. via WLOS

The standoff between Gov. Ted Strickland and major Ohio mortgage servicers has been resolved. via Dayton Business Journal

“If you walk away from your house and the bank gets it back and they sell for less than what you owe, you will not have to report that on your tax return”

By Stephanie Stanton NBC News Channel It's tax time and Americans are getting ready for their annual visit with Uncle Sam. via WTLV

“People pushed the limits to be able to buy. They couldn't afford to buy there otherwise”

Million-dollar fixer-upper for sale: five bedrooms, four baths, three-car garage, cavernous living room. via KCOL-AM Fort Collins

Janice Pimentel, left, and her son Nick, listen as an auctioneer closes the sale of the Pimentel's dairy, outside the County Court Building in Merced, Calif., March 7, 2008. via HendersonvilleNews.com

“Our goal ought to be preventing foreclosures, not just propping up home builders and big lenders”

The Senate began debate Thursday on a bill that leaders have pitched as much-needed relief for distressed homeowners, but that spends much more to help the home-building industry, which would get a tax break ... via KCPQ

Democratic lawmakers said Sunday that Congress should pass a second economic aid plan that would focus on helping homeowners avoid foreclosure and increasing spending on bridges, roads and transit systems. via Guardian Unlimited

A bill in the U.S. Senate could send $122 million to Oregon and $210 million to Washington state to boost demand for housing and help homeowners avoid foreclosure. via The News-Review