Highlights
A collection of news and information related to Foreclosures published by Tribune Company sources.
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5,000 show up at foreclosure showcase
michael.amon@newsday.comAuctioneer John Lynch, his voice racing and urgent, furiously ticked off bids on a 5-bedroom colonial in Hempstead, guiding the offers from $250,000 into the low 300s. "How about $317, $317?" Lynch pleaded, as his assistants stalked the room looking...Tags: Auction Service, John Lynch, Hempstead, Mortgages, Financial and Business Services
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Freeport family battered by economy
randi.marshall@newsday.comIt hasn't been an easy economic road for Joan Fennell. Once a hotel chef, Fennell, 58, and her husband Joseph, 63, used to have plenty of savings and a comfortable income. When she became disabled, Fennell switched jobs, working as a conference...Tags: Economy, Long Island, Bankruptcy, Startups, Homes
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Some federal housing help is on the way
Even in the midst of all the housing gloom and doom, there is some good news: Federal dollars will soon buy foreclosed homes and preserve the value of the communities that surround them. If our counties and towns use this money well, it should at least...Tags: Steve Levy, Condos and Houses, Long Island, Islip, Rentals
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As market shrinks, so does size of home builder's floor plans
The Associated PressWhen the U.S. housing market hit the skids, home builders like KB Home that thrived by offering large homes and expensive amenities began to rethink their home designs with an eye toward making smaller, less costly homes. Three years into the downturn,...Tags: Sales, KB Home, House Building, Homes, Deutsche Bank AG
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U.S. to buy shares in struggling banks
Los Angeles Times Staff WritersIn an extraordinary response to the escalating financial crisis, Treasury Secretary Henry M. Paulson said Friday that the government would buy direct stakes in banks and other financial institutions for the first time since the Great Depression....Tags: Economic Policy, Money and Monetary Policy, Great Depression, Central Bank, Ben Bernanke
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Vulture investors poised to feed on distressed companies, but hesitate as prices keep falling
Associated Press WriterNEW YORK (AP) _ When financial panic sweeps Bedford Falls in the 1946 movie "It's a Wonderful Life," the villain, Mr. Potter, moves to snap up the Bailey Bros. Building and Loan, offering a fire-sale price of 50 cents on the dollar. "I may lose a...Tags: Legal Services, Business Enterprises, Rudy Giuliani, Bedford (Bronx, New York), Government
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Lender drops suit vs. Cook Cty sheriff on eviction
Associated Press WriterA mortgage lender that filed a lawsuit to force the Cook County sheriff to evict a suburban Chicago woman from her home announced Friday it has withdrawn the suit. Accredited Home Lenders said in a brief statement it would also suspend its eviction...Tags: Chicago Mortgages, Dolton, Mortgages, Financial and Business Services, Condos and Houses
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Meltdown 101: Bankruptcy filing won't provide much help for most borrowers facing foreclosure
AP Business WriterWASHINGTON (AP) _ Can filing for bankruptcy help homeowners facing foreclosure? For most people, trying to negotiate changes in their loan with help from a housing counselor or lawyer is a far better option. While bankruptcy judges can reduce or...Tags: Money and Monetary Policy, Barack Obama, Georgetown, Financially Distressed Companies, Government
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Mortgage lender drops lawsuit against Cook County sheriff over eviction orders
Associated Press WriterCHICAGO (AP) _ A mortgage lender that tried to force the Cook County sheriff to evict a suburban Chicago woman from her home announced Friday that it has withdrawn its lawsuit. Accredited Home Lenders said in a brief statement it would also suspend the...Tags: Trials, Dolton, Chicago Mortgages, Mortgages, Financial and Business Services
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Lender drops suit against sheriff who won't evict
The Associated PressA mortgage lender that tried to force the Cook County sheriff to evict a suburban Chicago woman from her home announced Friday that it had withdrawn its lawsuit. Accredited Home Lenders said in a brief statement it would also suspend the eviction of...Tags: Dolton, Chicago Mortgages, Financial and Business Services, Mortgages
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Florida officials give property appraisers leeway
Bargain sales prices could now equate to bargain property taxes as well for home buyers. With foreclosures and pre-foreclosure sales flooding South Florida's real estate market, state tax officials gave local property appraisers more leeway Friday in...Tags: Sales, Property, Real Estate Buyers, State Budgets
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Text of President Bush's remarks Friday on the economy
Text of President Bush's remarks on the economy Friday, as provided by the White House: ___ BUSH: Good morning. Over the past few days, we have witnessed a startling drop in the stock market — much of it driven by uncertainty and fear. This has...Tags: Stock Market, Money and Monetary Policy, Ben Bernanke, Federal Reserve, Financial Markets
Oct 12, 2008
|Story| Newsday
Oct 12, 2008
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Oct 12, 2008
|Story| South Florida Sun-Sentinel
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|Story| Los Angeles Times
Oct 10, 2008
|Story| Associated Press
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Oct 11, 2008
|Story| South Florida Sun-Sentinel
Oct 11, 2008
|Story| South Florida Sun-Sentinel
Oct 10, 2008
|Story| Associated Press
