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+12 ·
US foreclosure rate doubles in a year
Filed May 09, 2007 at 4:54 PM ·
U.S. homeowners entered the foreclosure process last month at more than double the rate of a year ago as tightening credit made it more difficult to refinance and a swelling supply of unsold homes made it tough to sell.
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+7 ·
1st-quarter foreclosure actions more than double from 2006
Filed Apr 18, 2007 at 1:32 PM ·
Owners of 168,829 homes in the first three months of 2007 received notice that lenders had filed for foreclosure, according to figures released Monday by Foreclosures.com. That compares with 83,154 homes a year earlier, the research firm said.
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+7 ·
Foreclosure Wave Said to Hit Latinos Hit Hard
Filed Apr 13, 2007 at 1:48 PM ·
As the nation's attention has been drawn recently to the fallout in subprime lending, advocates and real estate professionals say minority and immigrant populations are suffering disproportionately from the foreclosure wave sweeping through many states, as they were more likely to rely on risky loans as their ticket into the market.
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+5 ·
The Subprime Foreclosure Crisis Heightens
Filed Apr 12, 2007 at 1:11 PM ·
The Joint Economic Committee released a report on the subprime mortgage crisis that reiterates what the Center for American Progress has been saying: subprime mortgage foreclosures are a looming threat for the housing market, the mortgage lending industry, homeowners, and the U.S. economy that demands immediate attention.
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+7 ·
California Foreclosure Auctions Reach Record High
Filed Apr 11, 2007 at 3:33 PM ·
Discovery Bay, California-based Foreclosure Radar, a foreclosure listings and software company, says the state of California has experienced a 264 percent increase in the number of foreclosed homes sold at auction in just the last six months.
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+5 ·
Schumer Warns Of Housing Foreclosure Crisis
Filed Mar 27, 2007 at 3:07 PM ·
Skyrocketing sub-prime or "no money down" mortgage premiums could cause nearly 23,000 city families to go into foreclosure by the end of 2008, according to Senator Charles Schumer
Schumer says the current sub-prime loan market could lead to many homeowners' monthly payments doubling or tripling in the next three years.
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+14 ·
Foreclosure total jumps 79 percent
Filed Mar 27, 2007 at 3:07 PM ·
More than 16,000 California homeowners had their properties foreclosed uon in February, a 79 percent increase over the same period last year and the second highest level in the nation, according to a report released today.
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+3 ·
Schumer urges more regulation of subprime mortgage rates
Filed Mar 26, 2007 at 4:00 PM ·
Sen. Charles Schumer warned Sunday that 91,000 New York families are at risk of losing their homes when the rates of their subprime mortgages increase, and said more federal oversight is needed in the subprime lending market.
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+3 ·
Homeowners, lenders skirt default
Filed Mar 22, 2007 at 8:05 PM ·
Rolando Ruiz and Stephanie Rodrigues telephoned their mortgage lender two weeks ago and offered to hand over the keys to their three-bedroom house in Providence, R.I.. They lost their jobs and haven't made a loan payment since January.
"I told the bank to come get the keys and just let me know when we need to be out, but they said why not put it up for sale and we might be able to work something out," said Rodrigues, the 22-year-old mother of two girls.
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+9 ·
A Closer Look: Study Investigates Impact of Mortgage Payment Reset
Filed Mar 21, 2007 at 1:12 PM ·
A key finding of the study is that the impact of reset-based foreclosure will focus on subprime mortgages and teaser-rate loans with low initial interest rates, interest-only or negative amortization features originated within the past three years. The research predicts that, due to payment reset in the absence of equity, 32% of teaser loans will default, 7% of market-rate adjustable loans will default and 12% of subprime loans will default over the next six to seven years.
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+11 ·
Mortgage jitters
Filed Mar 16, 2007 at 8:22 PM ·
Tuesday's mortgage-delinquency and home-foreclosure report, issued by the Mortgage Bankers Association, revealed that 13.3 percent of subprime loans were delinquent during the fourth quarter. That represented an increase of 6.1 percent over the third quarter. But it was what happened in the prime-mortgage area that spooked the financial markets.
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+8 ·
Hillary Clinton Backs a Foreclosure Timeout
Filed Mar 16, 2007 at 8:22 PM ·
residential hopeful Hillary Clinton on Thursday called for incentives for U.S. lenders to identify troubled mortgages, offer "a foreclosure timeout" and possibly revise repayment terms amid the widening subprime mortgage crisis.
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+7 ·
California foreclosure sales accelerate
Filed Mar 16, 2007 at 8:22 PM ·
Home foreclosures in the United States being reported by the media likely understate actual foreclosure sales activity, according to Foreclosure Radar, a Discovery Bay-based foreclosure listings and software company.
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+5 ·
Foreclosures up 199 Percent
Filed Mar 15, 2007 at 4:24 AM ·
The Warren Group of Boston, which publishes Banker & Tradesman, also said advertisements for foreclosure auctions increased 199 percent in February.
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+1 ·
Record foreclosures in fourth quarter
Filed Mar 14, 2007 at 1:59 PM ·
The percentage of all outstanding loans that entered the foreclosure process was 0.54, 0.08 percentage points higher than the third quarter and the highest ever recorded in the survey. The previous record was 0.50 in the second quarter of 2002.
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