Word: mortgagee
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MORTGAGES 46,700 Number of cases of U.S. mortgage fraud in 2007. False information on mortgage applications has cost the banking industry $1 billion over the past decade 2% Percentage of properties in foreclosure last year in Florida, the American state with the highest rate of mortgage fraud
Meanwhile, with home equity credit lines drying up, Americans have also become more reliant on their credit cards than ever. Overstretched consumers might be forced to bail on their mortgage - even if it means losing their home - but they'll continue to make the minimum payment on their credit cards...
Last night, former University President Lawrence H. Summers held an open discussion about economics, politics and social entrepreneurship in the Winthrop Junior Common Room. Summers, the former Treasury Secretary who resigned from Harvard’s presidency in 2006, now holds a prestigious University Professorship and is still considered an...
Just recently, this quiet, agricultural town of 200,000 was in a boom period. House prices shot up in the early 2000s, and Modesto became a bedroom community for the Bay area. But then the subprime mortgage crisis hit hard: in February alone, Stanislaus County had 1,630 foreclosure filings...
There are some glimmers of hope on the horizon. Charities like Habitat for Humanity are taking advantage of the cheap home prices and labor to fix up abandoned properties for underprivileged families. The strangely upbeat Repo Home Tour bus is about to launch a regular Saturday showing of vacant houses...