When Foreclosures Outnumber New Homes Boston Globe January 16, 2009 The number of people losing their homes to foreclosure across the country is now outstripping the number of new homes being built. More than 860,000 homes were foreclosed on last year, according to RealtyTrac. All told, builders were...
Foreclosures in U.S. Rose 81 Percent, Topping 2.3 Million Last Year Bloomberg News January 15, 2009 U.S. foreclosure filings jumped 81 percent last year as falling house prices, tighter mortgage lending and the longest recession in a quarter century battered property owners, RealtyTrac Inc. said. U.S...
Bankruptcy Law Changes May Not Cut Home Foreclosures January 14, 2009 Bloomberg News A proposed change to bankruptcy laws that would allow judges to reduce consumers’ mortgages may not succeed in reducing the foreclosures that have been dragging down property prices, according to a Barclays Capital...