Housing

As bank-owned foreclosed properties pile up across the country, from abandoned houses in hard-hit neighborhoods to empty big box retail stores in failed strip malls, the fight over holding someone responsible for the brick and mortar mess left behind by the mortgage crisis continues to heat up.

Rosemary Williams is, technically, a squatter. On August 7, Hennepin County Sheriff’s deputies showed up to evict her from a residence in the 3100 block of Clinton Avenue South. But within 10 minutes, by Williams’ own account, she was back in the home that she’s lived in for nearly three decades.

Startling requirements in out-dated, but still used paperwork raises questions about how well Treasury is overseeing the centerpiece of Obama’s foreclosure crisis solution.

Once a central element of the administration’s plan to help underwater homeowners, cramdown is no longer part of the debate.

There’s more proof out today that the foreclosure crisis is only getting worse, despite everything that’s been thrown at it so far: Foreclosure notices reached a new record high during the first half of this year.

The time may be ripe for a shift in strategy as the foreclosure machine grinds on, and new foreclosure notices reach a troubling 10,000 per day. Lawmakers have a choice: let the foreclosures go on for perhaps years, at the expense of millions of homeowners, or take the crisis head on.

Rep. Michele Bachmann continued her campaign against Rep. Barney Frank and the Association of Community Organizations for Reform Now (ACORN) on Fox News’ Hannity on Wednesday. Despite Bachmann’s claims on the show, a new bill introduced by Frank will not funnel money to ACORN and ACORN is not “under indictment” in 12 states for “voter [...]

A report released this week by the Federal Bureau of Investigation found that Minnesota ranked in the top fifteen states for mortgage fraud claims in 2008 and in the top ten on a couple of measure. Specifically, data from the Financial Crimes Enforcement Network found Minneapolis FBI field offices ranked 9th in the number of [...]

While the plight of homeowners affected by the real estate meltdown has been well-documented, renters too often fall under the radar.

Rosemary Williams has vowed not to leave the South Minneapolis home where she’s lived for 26 years, even after falling into foreclosure. But Hennepin County District Court Judge Lloyd Zimmerman has ordered that she vacate the premises within seven days, the Star Tribune reports.