Faces Of Foreclosure: The Nonagenarian (He's 92.)

Our sister publication, Consumer Reports, put together some video interviews with people who, for one reason or another, are facing foreclosure. They are the human side of this financial meltdown.

Faces Of Foreclosure: The Former Police Officer

Foreclosures Hit An All Time High As Many Homeowners Simply Give Up

Foreclosures Hit An All Time High As Many Homeowners Simply Give Up

The Mortgage Bankers Association says that foreclosures have hit an all-time high as more and more borrowers with adjustable rate mortgages walk away from their homes before their payments increase.

When A House Is A Bad Investment, Is It OK To Just Walk Away?

When A House Is A Bad Investment, Is It OK To Just Walk Away?

Here’s one that’s sure to start some intense debate: If you’ve made a bad investment and your house isn’t worth what you thought it was going to be, is it OK to just walk away?

FDIC Chair Suggests Fixing Rates To Solve Mortgage Crisis

FDIC Chair Suggests Fixing Rates To Solve Mortgage Crisis

Sheila C. Bair, the chair of the FDIC, suggests that lenders “restructure all 2/28 and 3/27 subprime hybrid loans for owner-occupied homes in cases where the borrower has been making timely payments but can’t afford the reset payments. Convert these to fixed-rate loans at the starter rate.”

Critics Say Countrywide Isn't Doing Enough To Help Foreclosed Homeowners

Critics Say Countrywide Isn't Doing Enough To Help Foreclosed Homeowners

Countrywide is catching hell from consumer advocates who say they’re not doing enough to help the homeowners they’ve foreclosed on.

Subprime Meltdown Kicks WaMu's @#$, Profits Down 75%

Subprime Meltdown Kicks WaMu's @#$, Profits Down 75%

It must not be fun around WaMu headquarters today. Profits are down a whopping 75%.

Baltimore Feeling The Pain Of The Housing Slump

Baltimore Feeling The Pain Of The Housing Slump

In the spring quarter, 25 percent of the foreclosures were in the city itself. The numbers are up even in Belair Edison, a stable working-class neighborhood of neat, two-story row houses adjacent to a picturesque wooded public park.

Foreclosures Up 115% From Last Year

Foreclosures Up 115% From Last Year

Foreclosures “zoomed” in August, up 115% from last year and 36% from July according to the newest numbers from RealtyTrac. This is the beginning of one of three remaining waves that will hit the market in the next year. This wave is expected to peak in October as 2 million 2/28 ARMs reset to market rates and an estimated 600,000 homeowners can no longer afford their payments.

WaMu To Stop Offering Cetain Types Of Subprime Mortgages

WaMu To Stop Offering Cetain Types Of Subprime Mortgages

WaMu, the nations largest Savings & Loan, is going to stop issuing certain risky types of subprime loans.

Doomsday Coming in October For The Subprime Mortgage Industry

Doomsday Coming in October For The Subprime Mortgage Industry

Many consumers who signed up for adjustable rate mortgages in 2004 and 2005 will see their mortgage payments jump this October, according to CNNMoney. With foreclosure rates already as high as one foreclosure filing for every 656 households in the US, this can’t be good news.