Homeowners Crisis Builds New Wave

By Matt Weidner I’m a soldier, a street fighter, an attorney battling foreclosures on behalf of homeowners at the ground level, in the trenches, in courtrooms all across Florida. Let me save you the suspense and get right to the point. Things are worse than they've ever been and they are only going to get far, far worse as the foreclosure crisis builds a new wave. Ignore whatever fantasy and misinformation is spewing forth from the … [Read more...]

Foreclosure Freeze Proposed

By Mike Colpitts An Ohio member of Congress has proposed a resolution that would enact a temporary freeze on foreclosures across the U.S. similar to the Great Depression. The proposal would enact a moratorium on all residential foreclosures. Rep. Marcy Kaptur (D-OH) offered the resolution before the House Financial Services Committee. The proposal asks President Barack Obama to declare a “national residential mortgage foreclosure … [Read more...]

Space Shuttle End May Kill Town

By Mike Colpitts Nervousness and uncertainty send jitters through the community of Titusville, the Florida home to the U.S. Space Shuttle program for more than 30 years. Ronald Reagan was president of the United States when this community led the venture into outer space. But the hub for space science exploration is ending its presence in the nation’s movement into space with the final launch of the Space Shuttle. Some 7,000 NASA workers … [Read more...]

2011 Ohio Housing Market

It was a sugar high that gained momentum with the home buyer tax credit, but after its expiration home sales slowed almost like a car coming to a stop sign. Record high foreclosures coupled with one of the highest unemployment rates in the nation have crippled the Ohio housing market. Displaced Ohio workers are beginning to get aid from the Hardest Hit Fund, but without more assistance the region is in for a tough New Year. A bloated … [Read more...]

Cyber Monday New Home Sale

By Kevin Chiu In an effort to improve sales and increase interest, an Ohio new home builder is taking a new route to keep up with changing times and sell homes at huge discounts on the Internet. The sale will feature a limited number of new homes at developments in two states and be conducted on Cyber Monday. The sale will give homebuyers a rare opportunity to find a new home at a discounted price at developments in Kentucky and Ohio, … [Read more...]

Banks Insult to Justice System

By Mike Colpitts Ohio’s hard talking attorney general says that banks and mortgage servicing companies simply choosing to re-file affidavits in order to straighten out their flawed paperwork on foreclosures is an “insult to the justice system.” "The big mortgage servicers and financial firms continue to demonstrate their belief that they do not need to play by the same rules as everyone else who uses our court system,” said Attorney General … [Read more...]

$100 Home Deal Not Dead

The federal $100 home deal that started out in one of the nation’s hardest hit foreclosure centers is expanding into more states. The move is part of government efforts to revitalize neighborhoods devastated by the foreclosure crisis. The program was launched in Cleveland, Ohio allowing non-profits to take control of homes that were foreclosed as a result of mortgages that became unaffordable for their former owners. The agreement gave the … [Read more...]

2010 Ohio Housing Market

Pushed by the federal tax credit, home buyers got off the fence to purchase homes earlier than they would have usually, but in Ohio the expiration of the tax credit may be having a huge impact on Ohio housing markets. The tax credit, intended to some how push the housing market into a recovery has triggered a set-back in much of the state, and may have done more damage than good. Summertime is usually the home buying season in Ohio because of … [Read more...]

Sun Belt Leads in Foreclosures

Four of the most populated sun belt states account for the highest foreclosure rates in the nation, according to the RealtyTrac mid-year foreclosure market report. California, Florida, Nevada and Arizona urban areas produced 35 of the 50 highest foreclosure rates among metro areas. The report was tabulated from metro areas with populations of at least 200,000 residents. Some of the hardest hit foreclosure metro areas in Michigan, Ohio, Indiana … [Read more...]