Foreclosure Info Today

By Aisha Boddie

So you have read, heard, or know of someone affected by the current foreclosure crisis.

You may have felt sad or sorry when you noticed that your neighbor, family, or friend had lost their home due to foreclosure, and you may had even said, “Boy I am glad it was not me.”

It may not have personally been you, but if you are a home owner, you were definitely affected. Even if you are not a homeowner, foreclosure affects the community and economy, and that includes you.

When a home is foreclosed, the bank is forced to Continue Reading…

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By Ceci Valenzuela

Nobody likes to talk about foreclosures especially if it is their own. Unfortunately, foreclosures are occurring more than ever in every part of the United States.

Need some advice on avoiding foreclosure?

Here is some general information about foreclosures.

Several states have a record number of foreclosures, such as Arkansas, Arizona, Colorado, California, Florida, Illinois, Massachusetts, Maryland, Michigan, New York, New Jersey, Ohio, Texas, Utah, Virginia, and Wisconsin.

CNN Money reports that adjustable-rate mortgages, especially mortgages that are considered, sub-prime adjustable rate mortgages, continue to contribute to foreclosures.

According to the San Francisco Chronicle, Americans borrowed $2.2 trillion dollars through attractive adjustable rate mortgages between 2004 and 2006.

These adjustable rate mortgages were hard to pass up with low monthly payments. Continue Reading…

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