The U.S. home foreclosure rate has hit the highest level in 25 years. Families across the country are losing their homes. In many cases because falling home prices have made their adjustable rate mortgages no longer affordable.
A record 5.4 million homeowners were either overdue on payments or in foreclosure at the end of last year.
Foreclosure issues continue to dominate the economic forecasts for our region and our nation. The Washington region, which came to the foreclosure market more slowly than other regions, suddenly is a “hot spot” for analysts. A recent survey of bank executives about key issues revealed that a declining economy, faltering […]
Foreclosure is not a four-letter word, but it seems to have some of the same implications these days as the impacts of foreclosure continue to grow. Our region which, according to the Metropolitan Washington Council of Governments (MWCOG or simply COG), was relatively free of major foreclosure problems, now has […]
The housing and credit crisis has left no community untouched. Odds are someone in your neighborhood has already fallen behind on their mortgage payments. For those whose mortgages have not stretched their budgets past the point of breaking, it’s tempting to rest in the belief that your neighbor’s struggles are […]
5 Clergy Speak Out for Affordable Housing in F.C. An outpouring of local clergy support for a plan to build 174 affordable housing units on land adjacent to the planned City Center in downtown Falls Church was exhibited at Monday’s F.C. City Council meeting. The proponents said they chose […]
As the housing crisis grips the country, local families, governments and opportunists all seek a successful strategy.
By Bush administration standards, Henry Paulson, the Treasury secretary, is a good guy. He isn’t conspicuously incompetent; and he isn’t trying to mislead us into war, justify torture or protect corrupt contractors.