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African Americans in D.C. bear burden of subprime mortgage crisis, report finds (The Washington Examiner)
African-Americans in Washington are living on the knife's edge of the subprime mortgage crisis, a city government study has found.
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Fairfax to consider proposal to fight foreclosure crisis (The Washington Examiner)
The Fairfax County Board of Supervisors is set to weigh a proposal today that seeks to combat the county's foreclosure crisis by buying, fixing and selling shuttered houses, aiding first-time buyers in finding loans, and counseling households at risk of foreclosure.
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IBD's Top 10 - Tuesday (Investor's Business Daily via Yahoo! Finance)
April Home Prices Tumble 15.3%. Prices in 20 big cities fell a record 15.3% vs. a year earlier, says S&P/Case-Shiller. The 10-city index sank...
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2nd UPDATE:New HOPE NOW Guidelines Set Standards For Mtge Aid (Nasdaq)
WASHINGTON -(Dow Jones)- Top mortgage lenders and servicers, under pressure to do more to help prevent record numbers of foreclosures, have reached a major agreement on new guidelines to improve and speed up the industry's voluntary efforts to help struggling U.S. homeowners.
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Desperate homeowners were swindled through TV ads, federal prosecutor says (The Washington Examiner)
A group of alleged Maryland foreclosure swindlers has been charged with using television advertisements to entice desperate homeowners into turning over their deeds as a last-ditch effort to save their homes from being returned to the bank, a federal prosecutor said Wednesday.
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Housing crisis worsens as number of US homes facing foreclosure in May up 48 percent (Minneapolis-St. Paul Star Tribune)
Why does the government have to save people from their greed and stupidity? First, some people took huge risks to finance these … read more homes…sometime 2nd and 3rd home, which is not much different than putting their money in the stock market or betting on horses.
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Foreclosures plunge in Maryland, Virginia, rise in D.C. (The Washington Examiner)
Nationwide, foreclosures surged more than 7 percent in May, but foreclosures dropped dramatically in Maryland and Virginia after a spike in both states the month before.
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Bankruptcy numbers continue to increase (Baltimore Examiner)
With no money to spare for parking, Kelly Williams, a struggling single mother of four, left her rented Dundalk home and drove downtown, double-parking her car near the Garmatz Federal Courthouse, as she delivered one last piece of information that would complete her bankruptcy application.
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