Foreclosures 101 – Part 3

Foreclosure

Kwazi Nkrumah: Foreclosure Crisis Continues – There are over 3.5 million American households that are over 4 months in arrears in their mortgage payments.

The Austerity of Hope

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Vijay Prashad: The “safety net” that Romney mentioned has been frayed beyond recognition since the 1980s. One of the most grotesque problems is hunger.

Foreclosures 101 – Part 2

Foreclosure Key

Kwazi Nkrumah: After U.S. housing prices peaked in mid-2006 and began a sharp decline thereafter, refinancing became more difficult.

Foreclosures 101 – Part 1

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Kwazi Nkrumah: For years the banks, real estate agents and investors in real estate securities on Wall Street were making money hand-over-fist. They did all this while pretending to break from their previous established history of gross discrimination and red-lining against the disproportionately non-white borrowers whose limited financial resources forced them into “sub-prime” status in the first place.

Mitt Misses Middle Class’s Decline

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Robert Reich: January’s increase in hiring is good news, but it masks a bigger and more disturbing story – the continuing downward mobility of the American middle class.

Ex-Marine Fights Freddie Mac to Save His Home

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Peter Dreier: recent report sponsored by bank reform groups reveals that if banks lowered the principal balance on all underwater mortgages to their current market value, it would pump over $70 billion per year back into the economy.

The Foreclosure Crisis: Urgent as Ever and Could Get Worse

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Carl Bloice: There are an estimated 3.5 million seriously delinquent mortgages out there. There were nearly 2.7 million foreclosure filings on about 1.9 million homes last year. That’s down from 2007, but it’s still about one out of every 69 homes in the country.