At the end of last week, GMAC Mortgage, the United States’ fourth-biggest home loan lender, now called Ally Financial, admitted it has broken the law by rushing to file foreclosures as quickly as possible, fudging the paperwork in the process. And the Ally revelation is presumed to be just More…
“Buy new with $1,000 down,” the advertisement says, the words resting atop a trim green clapboard house offset by a bright blue sky. “The time has come. Stop wasting rent check after rent check and start building equity in your own home. And with only $1,000 down, affordable monthly payments More…
Good news from RealtyTrac this morning, as it reports that foreclosure filings — default notices, auctions and reposessions — fell 9 percent from March to April, evidence that the foreclosure crisis might have peaked last month.
In the good column: The number of homes receiving default notices fell 12 More…
As foreclosures continue at a record pace, homeowners in trouble have watched the government devise a $700-billion rescue plan for Wall Street, buy shares in nine major banks and extend credit to insurance companies like AIG. What they haven’t seen is much of anything coming their way.
Now the Treasury More…
Maybe we’re whiners for a reason. Bankruptcy filings climbed again in August, providing more proof that people are feeling the strains of a softening economy, creditslips reports.
The August figures show bankruptcy filings have reached a post-2005 high of 4,476 filings per day, notes credit expert Robert Lawless, a More…
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