Posts with tag foreclosure crisis

After splitting from her husband, Tami Wingfield couldn't afford to keep up with the mortgage on the home that they had shared. The monthly $1,600 bill was too much for her to bear alone, and in 2008, she lost the house to foreclosure. Like many people who lost their homes in the housing collapse, Wingfield decided the... Continue Reading »

The foreclosure crisis, which has caused around 4 million people to lose their homes, has wreaked havoc on many neighborhoods. Foreclosed homes drag down property values when they swell the housing supply and sell at below-market rates. These bank-owned homes also can erode the character of communities by attracting all... Continue Reading »

It didn't take long before the carnage in the hit house-party movie "Project X" spilled onto the real real estate market. Thirteen teenagers are being questioned for their possible involvement in a wild house party that will cost the builder nearly $100,000 in repairs, reports KHOU in Houston, Texas. "It's devastating.... Continue Reading »

By Rich Smith The Bible tells us that "it is easier for a camel to go through the eye of a needle, than for a rich man to enter the kingdom of God." Foreclosing on his pastor probably doesn't make the trick any easier. There's a new development in the housing crisis: Foreclosures are hitting houses of... Continue Reading »

STOCKTON, Calif. -- A red, white and blue sign declaring Stockton an "All-America City" still adorns City Hall, but the building's crumbling facade tells the real story of the community's recent fortunes. Since the sign went up nearly a decade ago, Stockton has twice topped Forbes magazine's list of "America's most... Continue Reading »