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US Foreclosure: Homelessness, Hunger - Page 8

Name: Mortgageann
Country:

Title: Foreclosures

Comments: I have been hearing lately that if the banks wanted to foreclose they do not have the manpower to do so on all the properties with late payments.
What they have been doing is renting the properties back to the owners with a plan for rent to own in the future.
By not foreclosing, there are fewer losses showing up in their books and shareholders are happier.

Hunger Homelessness Foreclosure US

Now that works well for home owners doesn't it and if they are paying a rent then they are paying a fixed rate. Let's hope they can afford to pay that because if not they will still end up homeless.

US Foreclosure: Homelessness, Hunger History & Civil Business Politics

I know a couple of families that lost their jobs due to the bad economy. Luckily they had parents and family members willing to absorb them into their life and home. The rest who don't have that end up on the streets.

Page 8 Hunger Homelessness Foreclosure US

There is going to be some welcomed relief now that the Bank of America will pay $335 million to settle on discrimination claims of people who borrowed from Countrywide.

Hunger Homelessness Foreclosure US

Home Seizures May Jump 25% This Year as U.S. Foreclosures Resume

The number of home repossessions is likely to rise about 25 percent from the more than 804,000 properties seized last year as lenders resume foreclosure actions Ref. Source 7

US Foreclosure: Homelessness, Hunger

In the largest deal ever to address the housing crisis, federal and state officials on Thursday announced a $26 billion foreclosure settlement with five of the largest home lenders.

The deal settles potential state charges alleging improper foreclosures based on "robosigning," seizures made without proper paperwork.

Most of the relief will go to those who owe far more than their homes are worth, which is known as being underwater on the loans. That relief will come over the course of the next three years, with the banks having incentives to provide most of the relief in the next 12 months.

The deal is the second biggest state settlement ever reached, trailing only the $206 billion settlement reached in 1998 between state attorneys general and the tobacco industry. Ref. CNN

US Foreclosure Homelessness Hunger - Page 8

Bank of America is going to offer rentals as foreclosure alternative instead of just outright losing your home... Might be better.

US Foreclosure Homelessness Hunger Politics Business Civil & History - Page 8

Banks fraudulently foreclose on millions of Americans : Video -

Lisa Epstein who is running for clerk of courts in Palm Beach County, Florida shares her first-hand experience with RT's Kristine Frazao. Ref. Source 7