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Press Releases from (9 total)

Subprime Mortgage Defaults Drag Down Consumer Confidence

( EMAILWIRE.COM, April 30, 2007 ) SACRAMENTO - Mortgage defaults and rising gas prices are among the top reasons why April of 2007 witnessed the lowest level of consumer confidence in over eight months. New York’s Conference Board’s index of consumer confidence dropped to 104.0 this past month. This figure is down from 108.2 in March. Last year’s index average was 105.9. Consumers reported that they don’t believe

Former President Carter Comments on Subprime Mortgage Crisis

( EMAILWIRE.COM, April 02, 2007 ) LOS ANGELES, CA - Ex-President Jimmy Carter announced at a nonprofit organization’s event that he thought that housing assistance programs would be even more necessary in the coming years as a result of the problems with subprime mortgages and subsequent foreclosures. Speaking with executives from Habitat for Humanity International the former President said, “I think the subprime market being so fluctuating and

Free Real Estate Investor Nationwide Conference Call with Gene Burns Tuesday Mar …

( EMAILWIRE.COM, March 27, 2007 ) SACRAMENTO, CA - Real estate expert Gene Burns will be appearing on a Live conference call on Tuesday March 27 at 7:00 P.M. Pacific Time sponsored by Find and Work With Distressed Sellers & Motivated Buyers Mr. Burns will be discussing how to sell properties in this market and how to work with distressed sellers. He will share specific strategies on

Subprime Mortgage Foreclosure Woes Scrutinized By U.S. Senate

( EMAILWIRE.COM, March 23, 2007 ) WASHINGTON - At the Senate Banking Committee hearings on Thursday officials downplayed the potential spread of problems in the subprime mortgage sector. One official, Roger Cole, Director of the Federal Division of Banking Supervision and Regulation told the committee that he thought the deterioration in the housing market would stay limited to the subprime sector. “We are not observing spillover effects from

Rebuttal to Attacks from Bankruptcy Attorneys

( EMAILWIRE.COM, February 23, 2007 ) Sacramento, CA -- Bankruptcy Attorney Jay Fleischman recently wrote on the internet that my comments in an article were false and absurd (see original article at “Bankruptcy Won’t Stop Foreclosure For Troubled Borrowers Forever”). Mr. Fleischman also wrote that “profit is all too often the reason that truth is tossed to the side.” Mr. Fleischman took my words out of context

Chrysler Layoffs Will Impact Foreclosure Rates in the Eastern U.S.

( EMAILWIRE.COM, February 19, 2007 ) SACRAMENTO, CALIF – On Valentine’s Day in 2007 Auburn Hills, MI based Chrysler announced that it will be laying off 13,000 workers at plants in Michigan, Delaware, and elsewhere. The immediate impact of this on the affected employees and their families will be serious, and a corollary impact will be felt in the housing sector. Students of the history of real estate appears in Central Valley Business Times

( EMAILWIRE.COM, February 13, 2007 ) Sacramento, CA -- More than $1 trillion in adjustable rate mortgages (ARMs) will reset this year bringing higher monthly payments and a corresponding increased risk of foreclosure to thousands of homeowners, says Patrick McGilvray, president of a Sacramento firm that buys homes directly from owners. Analysts are divided on what this change will mean for the American and global economies, but

Real Estate Market Not Rising Fast Enough to Save Struggling Borrowers

( EMAILWIRE.COM, February 12, 2007 ) SACRAMENTO, CALIF — During the past several years in housing markets on the East and West coasts many people purchased homes that were more expensive than they could afford because they believed that they could always sell their house for a profit if their financial situation worsened. Unfortunately, for thousands of these homeowners these plans are not working out as expected. For

Sacramento Minorities Face Unprecedented Economic Tsunami

( EMAILWIRE.COM, January 10, 2007 ) SACRAMENTO, CALIF -- Sacramento has recently been ranked among the most at-risk real estate markets in the country, according to The Center for Responsible Lending. The reason that so many individual homeowners face tremendous risk of losing their homes to foreclosure in 2007 and 2008 is mainly because of the problems with sub-prime loans. More than 2 million American families are using

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