mortgage crisis

Across the country, organizations, such as the Chicago Anti-Eviction Campaign and Occupy Our Homes (a spin-off of the Occupy Wall St. Movement), have been protesting the eviction practices of banks by moving homeless families in to vacant foreclosed properties, according to the Chicago Tribune. SEE ALSO: Fran Drescher Talks Being Raped By A Black Man, […]

WASHINGTON — President Barack Obama is aiming mortgage relief at members of the military as well as homeowners with government-insured loans, the administration’s latest efforts to address a persistent housing crisis. SEE ALSO: Super Pac’s Biggest Donors In his first full news conference of the year Tuesday, Obama was to announce plans to let borrowers […]

Exercising his constitutional powers, President Barack Obama named Richard Cordray as the director of the newly created Consumer Financial Protection Bureau, which watches for violations of mortgage company laws. SEE ALSO: Ron Paul Attracts Young Voters The new appointment is controversial because President Obama chose to elect Cordray without Senate confirmation during Congress’ recess. The […]

WASHINGTON — The Obama Administration announced Thursday that adjustments will be made to the Federal Housing Administration (FHA), requiring services to extend the forbearance period for unemployed homeowners from 3 months to 12 months, according to the U.S. Department of Housing and Urban Development. Expected to become a standard for the mortgage industry, these adjustments […]

CHARLOTTE, North Carolina  — There’s only one way in to Windy Ridge — across freight train tracks that zipper up the subdivision on three sides. Living room windows offer views of a cardboard box factory and a Pepsi bottling plant. It’s an unlikely place to come looking for the American Dream. ALSO READ: Charlie Sheen, […]

Latino and African-American homeowners have a disproportionate share of foreclosures nationwide compared with their percentage of homeownership, according to a new study.