Busted: Bankers and The Global Economy

February 12, 2008

Major lenders put freeze on foreclosures

Filed under: banking, money — Tags: , , , , , , — digitaleconomy @ 2:58 pm

In a long awaited official move, commercial banks will halt foreclosure proceedings to give lenders and borrowers time to work out delinquency solutions. It’s the latest attempt to tackle the housing crisis.

CNN Money Article

A growing share of home sales are from foreclosures, especially in states hardest hit by the housing bust. In some parts of California lately, nearly 50 percent of home sales come from foreclosed houses.

AP Article

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