These new, almost finished homes were getting steep fines from the municipalities. The builder had filed for bankruptcy and the homes were in foreclosure so the banks choose to destroy them instead.
Posts Tagged ‘foreclosure’
About that foreclosure suicide
Tanta at Calculated Risk does some digging, and wonders why mainstream media missed important facts, like why the cop said (with no proof) that the couple must have had an adjustable rate mortgage, why the husband said he had no clue about the foreclosure yet had filed for a BK three times recently – and [...]
Foreclosures hit the military
Foreclosures within 10 miles of military facilities in the US are four times higher than than in other areas.
“Think about how much stress comes with a foreclosure, and then imagine you’re walking the same tightrope while being employed in Baghdad,” said Paul Rieckhoff, 33, the head of Iraq and Afghanistan Veterans of America and a [...]
Foreclosures hit all time high
This was as of the end of 2007. The foreclosure rate is probably even higher now.
“We’re seeing people give up even before they get to the reset because they couldn’t afford the home in the first place”
Some homebuyers were clueless, and really didn’t understand what they were getting into. Others figured prices would keep rising [...]
More on jingle mail
A bank CEO says, unlike in previous economic downturns, once homeowners go 30 days late on the mortgage they never make another payment. In previous times, they might have kept paying, remaining 30 days late. But no more. They just walk away from the home, and mail those jingling keys back to the bank.
This is [...]
