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From the monthly archives:

November 2008

Denver’s Supply of Unsold Non-Foreclosure Homes Down Due to Foreclosures

by Mark GoodmanNovember 26, 2008

Homeowners in the Denver area are holding off on their plans to sell their homes because of rapidly falling prices in the housing market, which is being continuously flooded with foreclosure homes. This has caused a sharp decline in the supply of non-foreclosure homes for sale in Denver to a record three-year low.

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Yuba City Puts Money into Foreclosed Homes

by Anthony ParkerNovember 24, 2008

If all goes as planned, twenty percent of the nearly $5 million tax increment budget in Yuba City, California is going to flow into real estate ventures, particularly in the purchase of foreclosed homes. This proposal of council members Kash Gill and Leslie McBride received strong backing from all the other members upon being presented to the City Council meeting last Tuesday. After a brief discussion, the proposal was forwarded to the city administration.

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A Mom’s Act of Kindness at Foreclosure Auction

by Robert ShultzNovember 21, 2008

Ms. Mock has become a national celebrity after she did an extraordinary act of kindness for 38-year-old Tracy Orr, a woman she just met. ABC’s “Good Morning America” and a CNN show have featured her and celebrity hosts such as Oprah, Dr. Phil and Ellen have invited her to their shows.

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Obama Seeks Program to Help Homeowners Avoid Foreclosure

by Robert ShultzNovember 21, 2008

President-elect Barack Obama has called for a new initiative that would help troubled homeowners avoid foreclosure. He has also expressed his desire to help the automobile industry, which has been struggling from high costs of materials and fierce global competition.

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Acceleration in Foreclosures Hitting California County Hard

by Mark GoodmanNovember 20, 2008

Homeowners from California are taking a sad plight as they witness more and more of their longtime friends and neighbors leave or abandon their homes due to foreclosures. Neighborhoods find more houses empty while a few more remaining residents cower in fright, dreading receipt of that inevitable eviction letter.

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MacArthur Foundation Pledges $68 Million to Abate Chicago

by Danny GibsonNovember 19, 2008

The charitable organization, MacArthur Foundation has committed $68 million to help organizations that fight the foreclosure problem in Chicago. The investment is considered as the most significant support provided by a private entity to help people avoid foreclosures.

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Local Government Gives Hope to Constituents Facing Home Foreclosure

by Robert ShultzNovember 17, 2008

For quite a few Lansing City residents, it is either the devil or the deep blue sea. The economic crisis has affected wage earners, putting them in danger of eviction. Even those who can pay the rent face a similar crisis as landlords are losing properties to foreclosure.

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Obama Proposes Moratorium on Foreclosures

by Anthony ParkerNovember 14, 2008

While Senator John McCain is urging the government to buy bad home loans, inadvertently making taxpayers pay for the difference between these and the homes’ new values, Barack Obama is proposing a 90-day foreclosure freeze and encouraging the Treasury Department to work with various government agencies to help families in danger of losing their homes to foreclosure.

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Rising Foreclosures Give New Meaning to the Term “Underwater”

by Robert ShultzNovember 13, 2008

Sudden declines in home prices face the real estate industry, as a by-product of the increase in the number of foreclosure homes flooding the market. Prices have dropped tremendously, and in some cases down to half of what existing homes are originally worth. This resulted to an increase of “underwater” homeowners, or those whose mortgage balances are now higher than what their homes are currently worth.

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California’s Schwarzenegger Proposes a 90-Day Suspension of Foreclosures

by Mark GoodmanNovember 12, 2008

Schwarzenegger has presented his foreclosure moratorium proposal to legislators in the first week of November, including his proposals to increase taxes and reduce expenditures in order to reduce the state’s budget deficit of $11 billion.

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