Written by By Charlene Crowell - NNPA Financial Writer
Thursday, 02 September 2010 16:18
With more than 2.5 million foreclosed homes nationwide and millions more to come, many families are tightening their household budgets, delaying major purchases and paying down debt as best they can. Unemployed or under-employed heads of household hope and pray for a new job, while those who are still working feel fortunate but also nervous that the ax could fall on them next.read more »

Noted local attorney Bob Mendes draws attention to a new state statute that makes it a little harder for foreclosed homeowners to fight banks when the latter come looking to recover money lost from foreclosure sales. At first blush, this statute seems to limit the arguments available to borrowers. However, in reality, our experience has been that, unless a borrower could show fraud or irregularities in the sale process, most courts have assumed that the foreclosure sale price was a fair market value.read more »