Foreclosure Nation
Leading Democrats, such as Senate Majority Leader Harry M. Reid (D-Nev.) whose state was hit hard by the real estate downturn, have called on lenders to halt foreclosures. But the Obama administration says a nationwide delay could devastate the fragile real estate market in places like Florida.
SOURCE: Foreclosure data from CoreLogic | Cristina Rivero and Mary Kate Cannistra/The Washington Post - Oct. 19, 2010
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This Story Bank of America to restart foreclosures in 23 states Article | Just 10 days after announcing a nationwide halt to foreclosure sales, Bank of America, the nation's largest bank, said Monday that it would begin resubmitting paperwork on Oct. 25 to restart foreclosures on borrowers who missed their payments in 23 states. This Story Don't underestimate foreclosure crisis, watchdog warns Article | A congressional oversight panel warned on Tuesday that a widespread problem of flawed and fraudulent foreclosure paperwork could upend the housing market and undermine the nation's financial stability. The report comes just as the issue is drawing greater scrutiny this week in Washington. This Story In mortgage crisis, uneasy politics Article | The details of the foreclosure mess are ugly and complicated. The politics of it are even worse. This Story Foreclosure crisis puts Wall Street reform legislation to the test Article | The foreclosure problems that have unfolded in recent weeks present a test of whether financial regulators can respond more cohesively and aggressively to an emerging problem than they did to the subprime crisis three years ago. This Story This Story States, mortgage lenders in talks over fund for borrowers in foreclosure mess Article | State attorneys general and the country's biggest lenders are negotiating to create a nationwide fund to compensate borrowers who can prove they lost their home in an improper foreclosure, state and industry officials said. |
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