Items Tagged with 'foreclosure crisis'


  • ATTOM: Number of zombie foreclosures has been cut in half since 2016

    Improved economy, tighter lending standards lead to fewer abandoned homes
    At the height of the housing crisis, tens of thousands of homes were abandoned during the foreclosure process, with many borrowers simply walking away from homes because they had nothing to lose financially on their homes. But a new report from ATTOM Data Solutions shows that the number of zombie foreclosures has decreased dramatically in the last few years.
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  • Scandal: Former staffer at National Community Stabilization Trust among 7 indicted for foreclosure profiteering

    Accused of taking bribes to funnel foreclosures to certain nonprofits
    The former director of community development at the National Community Stabilization Trust, a national nonprofit that works to stabilize communities affected by the foreclosure crisis, is among seven people indicted last month for allegedly participating in a conspiracy to profiteer off of foreclosures. According to the U.S. Attorney’s Office for the District of Nevada, Sergio Barajas allegedly accepted bribes to funnel foreclosures to certain nonprofits.
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  • Puerto Rican foreclosure crisis sends residents flooding to U.S.

    For sale signs go up all over island
    The Puerto Rican foreclosure crisis is currently worse than the U.S. foreclosure crisis at its peak in 2010. As the economy worsens, residents continue to flee the island, flooding into Texas and Florida. Some homeowners even leave their keys in their home, abandoning everything on their way out.
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  • Mortgage delinquency rates signal improving economy

    CoreLogic report reviews foreclosure crisis
    CoreLogic released a report reviewing the years before and during the foreclosure crisis, and compared them to the current state of the market. By looking back at the years, the property analytics provider shows just how much the economy improved, and in what direction it is headed.
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  • Nevada foreclosure crisis hurting Clinton, Sanders' efforts to get votes

    With Democratic caucus approaching, candidates' voter lists insufficient
    With the Nevada Presidential caucuses looming, the two major candidates for the Democratic nomination are struggling to contact potential voters thanks to voter lists that are out of date and insufficient due to the deep impact of the foreclosure crisis in the state.
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  • Oakland sues Wells Fargo for mortgage discrimination

    Becomes latest city to sue for allegedly steering minorities into high-cost loans
    The city of Oakland, California is the latest municipality to sue one of the nation’s largest banks. The city accuses Wells Fargo of allegedly steering minority borrowers into higher-cost loans, which led to rampant foreclosures and neighborhood blight.
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  • WATCH: Hollywood's A-list brings subprime to the silver screen

    Brad Pitt. Steve Carell. Christian Bale. Ryan Gosling. The Big Short
    Flashback to the 2008 timeframe where the subprime debacle was just taking hold. Enter into that cast of characters who bet against the big banks, and potentially, the American economy to get rich while the Empire crumbled. Add in a couple of Hollywood A-listers and you get The Big Short movie, based on the book by Michael Lewis.
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  • New York comptroller: State’s foreclosure crisis far from over

    New report shows increasing foreclosures outside NYC
    Despite efforts to combat the glut of foreclosures that have choked New York’s court system and blighted many of the state’s neighborhoods, a new report from the New York comptroller shows that the state’s foreclosure crisis is nowhere close to being resolved – and in many cities, it’s actually getting worse.
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