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Short Sales and the Foreclosure Crisis
Short Sales: Banks Blocking Way Out of Foreclosure Crisis Brett Ellis, a real estate agent in Fort Myers, Fla., was thrilled when he got an offer for a property in Bell Tower Park in May 2008. "It was a gorgeous property on the corner lot," Ellis told the Huffington Post. The owner, who had lost his job, wanted to sell the apartment for a loss rather than go into foreclosure, a strategy known as a short sale.Evander Holyfield’s $10 Million Estate in Foreclosure
Former heavyweight champion Evander Holyfield’s Georgia estate is under foreclosure and set to be auctioned off on July 1, according to a legal notice in a local newspaper. The lavish home, worth an estimated $10 million, is a 109-room, 54,000-square-foot estate on 235 acres outside of Atlanta. One of the largest homes in the Southeast, it includes 11 bedrooms, 17 bathrooms, a bowling alley, Olympic-size pool and a stable stocked with a half-dozen horses.Ed McMahon on Possible Home Foreclosure "Things Happen"
Former Johnny Carson sidekick Ed McMahon spoke out on CNN's Larry King Live about the possible foreclosure of his multimillion-dollar Beverly Hills mansion. Asked what happened, McMahon, 85, joked Thursday, "How much time do you have?" McMahon — who wore a neck brace — told King he hasn't worked since a fall two years ago.Ed McMahon’s Beverly Hills Mansion in Foreclosure
Ed McMahon, 85, sounds like he could stand to win the Publisher’s Clearing House right about now. The TV personality is said to be in default on a $5 million loan and in imminent danger of losing his Beverly Hills mansion. Wall Street Journal is stating that the foreclosure process has already been started on the six-bedroom estate.What rebound? Foreclosures rise as jobs and income drop
What rebound? Foreclosures rise as jobs and income drop By Kevin G. Hall | McClatchy Newspapers WASHINGTON — Delinquency and foreclosure rates for U.S.THE FORECLOSURE FIVE (housing crises)
THE FORECLOSURE FIVE A NATIONAL CRISIS? HARDLY. THE REST OF US ARE PAYING FOR THE IRRESPONSIBILITY OF A FEW STATES By ALAN REYNOLDS (New York Post) February 21, 2009 When President Obama discusses his $275 billion mortgage bailout, he talks as if it was a national problem, caused by a national decline in home prices.Southern N.J. prices down, foreclosures up, reports say
From the Press of Atlantic City: By KEVIN POST Business Editor, 609-272-7250 | Posted: Wednesday, May 13, 2009 http://www.pressofatlanticcity.com/news/top_three/article_dee1ce7c-3f75-11de-a971-001cc4c002e0.html Those hoping for a sign that southern New Jersey’s real estate market has bottomed out didn’t find it in Tuesday’s report from the National Association of Realtors, which showed home prices in Atlantic County 21 percent lower than a year ago. There was no “green shoot” — current economist lingo for a seedling of positive news — in the April RealtyTrac foreclosure report either. Foreclosure filings increased 28 percent in Atlantic County, 15 percent in Cape May County, 12 percent in Cumberland County and 18 percent in Ocean County.Obama responds to ire over 2nd anti-Vegas remark
LAS VEGAS – President Barack Obama is known for having a way with words, but some lawmakers from Nevada wish he would pipe down about trips to Sin City. After sparking a firestorm of criticism from Nevada's elected officials for suggesting that people saving money for college shouldn't blow it in Las Vegas, Obama told U.S. Senate Majority Leader Harry Reid in a letter that he wasn't saying anything negative about Las Vegas.They Still Don’t Get It
January 23, 2010
Op-Ed Columnist
By BOB HERBERT
How loud do the alarms have to get? There is an economic emergency in the country with millions upon millions of Americans riddled with fear and anxiety as they struggle with long-term joblessness, home foreclosures, personal bankruptcies and dwindling opportunities for themselves and their children.
The door is being slammed on the American dream and the politicians, including the president and his Democratic allies on Capitol Hill, seem not just helpless to deal with the crisis, but completely out of touch with the hardships that have fallen on so many.
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