housing crisis

How Mortgage Meltdown Made Us Banana Republic

Armen Hareyan — Mon, 29 Jun 2009 08:19:02 -0500

Homegrown Evolution published a very interesting real estate related story on one of the surprising benefits of the housing meltdown: fresh fruit. That’s right. The blog thanks Mr. Mozilo for creating our very own ‘Banana Republic’ as rundown homes and unmanned irrigation systems create the perfect environment for the growth of amazing tropical delights

Foreclosures Threaten Renters Too

Armen Hareyan — Tue, 24 Mar 2009 14:49:15 -0500

These days you don't have to be a homeowner to be afraid of foreclosure or to be concerned as to how to pay your mortgage on time to prevent a foreclosure. You can be someone like Lisa Brown from Long Island that is foreclosed despite not owning a house and paying a rent on time.

Fixing Housing Is A Must For Bank Recovery

Armen Hareyan — Tue, 02 Dec 2008 08:24:16 -0600

Housing needs to be fixed before the credit markets and banks can recover.

Mortgage Loan Modification Efforts Continue Expansion

Armen Hareyan — Tue, 04 Nov 2008 07:43:03 -0600

In the midst of the widening housing crisis, there’s been quite a lot of criticism from voters aimed at the recent efforts by the government to bail out financial institutions that are being dragged down by souring mortgage securities.

A Stranger Saves a Woman in Foreclosure

Michael Santo — Tue, 28 Oct 2008 10:19:02 -0500

It's no secret that foreclosures are up across the United States. But when Tracy Orr's house went up for auction this Saturday, an angel swept in to save her house from foreclosure.

Foreclosure Filings Continue to Amaze

Armen Hareyan — Thu, 23 Oct 2008 08:44:32 -0500

“I wouldn't be surprised to see foreclosures increase as the economy slows down. The people living paycheck to paycheck are at risk if they lose their jobs. It will cause more people to lose their homes,” says Rick Sharga of RealtyTrac.

Unsold House Inventory ‘Uncomfortably High’

Armen Hareyan — Fri, 23 May 2008 11:53:24 -0500

Does Lawrence Yun, the NAR chief economist, have a clue? He might just yet. Yun called the new report on the glut of unsold homes ‘uncomfortably high’ in a resignation that the housing market just isn’t in very good shape no matter which way you cut it.

Fiscal Stimulus Package Fails to Stem Rising Foreclosure Filings

Armen Hareyan — Wed, 14 May 2008 12:05:47 -0500

According to RealtyTrac, 243,353 foreclosure filings were recorded for the month of April. This was a 65% increase year-over-year and a 4% rise from March.

The housing crash continues

Armen Hareyan — Tue, 13 May 2008 11:54:51 -0500

More bad news for the housing market. According to CNNMoney:

One Million More Vacant Homes in U.S.

Armen Hareyan — Tue, 29 Apr 2008 15:20:58 -0500

In the past year, the number of vacant homes rose to 18.6 million-- an increase of more than 1 million in last past year.

Group Says Stop The Mortgage Bailout

Armen Hareyan — Thu, 24 Apr 2008 07:34:21 -0500

As lawmakers return from their two-week spring recess, more a more voices are calling for a mortgage bailout. All those greedy people who profited from the housing bubble are now expecting the federal government to come to the rescue.

Foreclosures Keep Increasing, March is 5 Percent

Armen Hareyan — Tue, 15 Apr 2008 14:11:54 -0500

RealtyTrac ( realtytrac.com ), the leading online marketplace for foreclosure properties, today released its March 2008 U.S. Foreclosure Market Report™, which shows foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 234,685 properties nationwide during the month, a 5 percent increase from the previous month and a 57 percent increase from March 2007. The report also shows one in every 538 U.S. households received a foreclosure filing during the month.