''States Battle Mortgage Foreclosure Threat''
"Frustrated by the slow pace of federal relief, states around the country are pouring hundreds of millions of dollars into their own programs to stem the rising tide of home foreclosures."
"Frustrated by the slow pace of federal relief, states around the country are pouring hundreds of millions of dollars into their own programs to stem the rising tide of home foreclosures."
Foreclosure-related filings for June jumped 72 percent in Suffolk and 2 percent in Nassau from the previous month, according to RealtyTrac, an online foreclosure marketplace.
State lawmakers are pushing a measure that would protect future homebuyers from risky and high-cost mortgages. But their proposal doesn't address the thousands of South Carolina homeowners who are struggling to make monthly payments right now.
"CNN's Lou Dobbs reports on the foreclosure crisis, including commentary by Susan Urahn, Managing Director of the Pew Center on the States."
More infoOne in 33 homeowners is projected to be in foreclosure primarily over the next two years, as a result of subprime loans made in 2005 and 2006, according to a new report released today by The Pew Charitable Trusts.
More infoThe Pew Charitable Trusts announced a new effort today to protect American families from dangerous “exploding” subprime mortgages linked to the current record number of home foreclosures.
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