August 2010

Homeowner learns the hard way in mortgage fight

Kathy Markwalder had hope for tangible change when President Barack Obama rolled out federal programs to help hardship homeowners avoid foreclosure. The single mother of two from Rensselaer applied for a modification of her mortgage loan through Chase Home Finance [...]


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Mother of slain soldier gets indefinite reprieve from foreclosure

Monday, Patricia Roberts faced foreclosure on her Lithonia home. The mother of Georgia’s first soldier killed in combat in the Iraq war was in danger of losing the condo where she and her mother Constance Walcott raised the child of [...]


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Time-barred debt is where the worst abuse has occurred towards the debtor

In most states, it is legal for collectors to pursue out-of-statute debt, as long as they do not file a lawsuit or threaten to do so. But some lawsuits are filed anyway, and consumer groups and even some industry consultants [...]


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Greenspan Says Drop in Home Prices Might Bring Back Recession

Image via Wikipedia Former Federal Reserve Chairman Alan Greenspan said the slowing economic recovery in the U.S. feels like a “quasi-recession” and the economy might contract again if home prices decline. “We’re in a pause in a recovery, a modest [...]


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Some foreclosed condos are selling for $1 at auction—less than the price of a Costco hot dog and soda

Image via Wikipedia The foreclosure mess spreading through Hawaii’s housing market is hitting condo projects especially hard, contributing to depressed property values and forcing many associations to raise monthly maintenance fees. Some foreclosed condos are selling for $1 at auction—less [...]


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Americans Buy IPads While Broke in New Abnormal Economy

Image via Wikipedia In March, Ralph Ronzio went to a warehouse in a seedy part of Orange County, California, and watched a man auction off his condo for half what he’d paid for it. Ronzio had bought the place for [...]


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