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 How Foreclosures Will Change The Presidential Election We have red states, we have blue states and increasingly we have purple states, beat-up states with substantial and growing numbers of foreclosures, states that may well decide the next presidential election. The foreclosure issue is being politicized because it's too big to ignore and too many people are being impacted. Foreclosures are an emerging issue because they lead to reduced local home values and home values are one of the key measures of personal success. Foreclosures are front-page news, they're affecting financial markets worldwide and for the first time in decades the lending system, foreclosure practices and bankruptcy rules may all be changed. A growing consensus in Washington ... VIEW FULL STORY | ||
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U.S. Foreclosure Activity Increases 2 Percent In October 2007 A total of 224,451 foreclosure filings - default notices, auction sale notices and bank repossessions - were reported during the month, up 2 percent from the previous month and up 94 percent from October 2006. The national foreclosure rate for the month was one foreclosure filing for every 555 households. VIEW FULL STORY  New Bankruptcy Laws Spur Foreclosures The falling number of bankruptcies and the rising numbers of foreclosures are related. In basic terms, under the old bankruptcy rules it was often possible to delay a foreclosure action by stalling the creditor in court and using that time to sell or refinance the property. VIEW FULL STORY How Much Disclosure Is Enough? It's hardly a secret that few borrowers fully understand their mortgage options. A 2006 Federal Reserve study found that 20 percent of all ARM borrowers did not know their original loan rate and 35 percent had no idea how much their monthly payment could increase with each adjustment. VIEW FULL STORY MORE ARTICLES |
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