Foreclosure

In a speech last week John Dugan, comptroller of the currency, issued a strong defense of the Community Reinvestment Act — a direct response to CRA critics such as U.S. Rep. Michele Bachmann, R-Minn., who have laid blame for the current housing crisis on anti-redlining legislation.

Rep. Dennis Kucinich (D-Ohio) introduced legislation today to bar political parties from challenging the eligibility of voters whose homes have been foreclosed.

Rupert Murdoch’s Wall Street Journal sees Gov. Tim Pawlenty landing himself in the hot seat when it comes time to veto the Minnesota Subprime Borrower Relief Act. Pawlenty has spoken against the proposal and stated that he would not sign the bill, effectively vetoing it.

The article author, Amy Merrick, writes that “if the governor takes [...]

A new report by the Minneapolis Area Association of Realtors reveals that foreclosures and short sales accounted for 27.6 percent of all closed sales in the first quarter of 2008. During the first quarter of 2007, these types of sales made up only 9.3 percent of the total market share.

Short sales are when the homeowner [...]