6 Articles match "Los Angeles","May","Rate"

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• Separating the wheat from the chaff: legitimate foreclosure investors vs. scammers
  
  An article in the Los Angeles Times onTuesday documented the sad story of a defaulted homeowner who was thevictim of alleged foreclosure fraud. The scammers dontcreate the foreclosure rates, but they swoop in at the time thatsomeone is in distress," said Elizabeth Renuart, a staff attorney withthe National Consumer Law Center in Boston and the author of "DreamsForeclosed: The Rampant Theft of Americans Homes ThroughEquity-Stripping Foreclosure Rescue Scams." The homeowner said he was trickedinto signing over the title of his home by a scam artist who didnothing to stop the foreclosure and then took out another loan againstthe property with no intention of paying it off.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Fed's Latest Moves No Real Surprise
  
  Financial analysts who were hoping for some downward movement on interest rates yesterday by the Federal Reserve were disappointed as Ben Bernanke and his merry band unanimously voted to do nothing. Following what is now a familiar and conservative wait-and-see strategy towards the nation’s economy, and reactionary as usual, Bernanke and the Federal Open Market Committee left their short-term federal funds rate at 2 percent. Later in the day the Fed made what had to be a highly anticipated move by the nation’s financial gurus, deciding to bailout AIG at the 11th hour before the world’s largest insurance company went bankrupt.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Foreclosures Fade in World Series Spotlight
  
  The Tigers have given local fans a chance to momentarily forget about another dubious distinction: that they reside in a city with one of the highest foreclosure rates in the nation . The city’s foreclosure rate of one new foreclosure filing for every 197 households was more than five times the national average and tops among the nation’s 100 largest metros. And foreclosures are just the The Detroit Tigers are the feel-good story of this year’s World Series, having made it to baseball’s big dance only three years after posting 119 losses — one of the worst records in history.
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• History in Sen. Dodd's Favor, But Nothing Else
  
  As the national economy continues to languish, politicians like Dodd are looking in earnest at the foreclosure crisis, which may provide the final push over the edge and asking what can be done. formed in the 1930s to deal with foreclosures, the new agency would assist homeowners in refinancing their subprime mortgages — many of which are now resetting at much higher interest rates, resulting, in many cases, in foreclosures, according to a report in the Los Angeles Times . It’s a presidential election year. A
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• Coastal Disasters = More Foreclosures?
  
  Back in 1994 something called “The Northridge Earthquake” (misnamed as it was) shook Los Angeles at 4:31 a.m. Florida had 124,721 foreclosures last year — a 2 percent increase from 2005, and a foreclosure rate of one new filing for every 59 households. Foreclosure Market Report. Add to that the fact that many of those homeowners who bought during the past two years financed their home purchase with one of those high-risk adjustable rate mortgages that For anyone who has lived through a natural disaster, the recent tornadoes in Central Florida and the horrific aftermath left behind — approximately 1,500 structures destroyed and 20 people killed — brings back memories of more than just the great need for disaster relief from the federal government (FEMA).
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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• As Home Prices Plummet, When Will You Buy?
  
  quot;There are signs of a slow down in the rate of decline across the metro areas, but no evidence of a bottom," said David M. percent decline and Los Angeles with a 26.2 The irony of all this may be that just as the market was beginning to find some footing and correct itself in these hard-hit areas, the government jumps in to try to save everyone and thereby undercuts those shaky steps toward a recovery. Home prices in 20 of the nation's major metro areas in July were collectively down 16.3 percent from a year ago, according to the S&P/Case-Shiller Home
  www.foreclosurepulse.com - Tuesday, December 16, 2008
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