The fraud goes beyond just just ripping off banks. Mortgage fraud leads to more property value declines in hard-hit neighborhoods, leaves homeowners already in distress in even worse shape, and ultimately will end up costing taxpayers, who will be stuck with the costs when loans go bad.
In 2008, the district represented by Rep. Michele Bachmann had the highest number of foreclosures in the state and the highest overall rate of foreclosures. Now, 9 months into 2009, that trend continues. According to data from HousingLink and county sheriff’s offices, Bachmann’s district still continues to be disproportionately impacted by the foreclosure crisis despite its representative’s reticence to vote for foreclosure relief legislation.
As the foreclosure crisis worsens, renters increasingly have become caught as innocent bystanders, evicted often without notice when their landlord faces foreclosure.
Housing foreclosures are up more than 70 percent in Minnesota this year, according to a recently released national study. But housing groups in Minnesota are reporting a 20 percent decrease in foreclosures. Is there an explanation for the disparity?
The U.S. House voted to suspend all federal funding for the Association of Community Organizations for Reform Now (ACORN) on Thursday afternoon by a vote of 345 to 75. Now the measure heads to the Senate, which passed a…
The Association of Community Organizations for Reform Now (ACORN) has a had a rough week. The Census Bureau dropped the organization as a community partner after a FOX News…
GMAC Mortgage went to extraordinary lengths to help keep Rosemary Williams, who was evicted on Friday after a foreclosure, in her home, according to the company. Among the steps taken: offering to lease the house back to Williams…
There were 3,688 foreclosures in Minnesota last month, according to a new report by RealtyTrac. That’s down 11 percent from July, but an increase of 71…
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As lawsuits wind their way through the court system, more details and allegations about the inner workings of the subprime world are emerging — and Minnesota’s second-largest employer remains in the legal crosshairs.
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