Tag Archive | "Mortgage"
Lessons from the Wright Family on Seeking Help
We met with the Wright family several weeks ago and heard of their difficult time during the mortgage crisis. Like many Americans, they’ve had difficulty making ends meet during the recession and were on the verge of losing their home. Rather than wait for foreclosure to happen, the Wrights made the most of the help [...]
Continue reading...Walking Away from Underwater Mortgages
Thursday, February 18, 2010
In the wake of the housing bubble and the lingering economic downturn, 23% of homeowners now owe more on their mortgage than their home is worth. Many are so far underwater that they have no reasonable hope of creating equity until the housing market fully recovers. For the hardest hit areas, this could take over [...]
Continue reading...Beacon: Foreclosure Struggles Linger in St. Louis
Thursday, February 11, 2010
The Beacon recently reported on enduring foreclosure difficulties facing St. Louis residents. Though signs of economic recovery continue to pop up, many homeowners are still struggling to make ends meet. The piece is a sobering reminder that our economy is far from fixed. The article highlights Chris and Kelly Green, whose family of five has been [...]
Continue reading...The Dangers of Using 401(k) Funds and the Need to Seek Help Early
Thursday, November 12, 2009
MSNBC posted an article last week describing the dangers of withdrawing cash from your 401(k). People who are recently unemployed or have had their hours reduced may no longer have the money to pay their mortgage or other bills. In these situations, dipping into the 401(k) has strong appeal, and most people want access to [...]
Continue reading...St. Louis Beacon report: Many still waiting on help from NACA
Tuesday, November 3, 2009
Back in September, we posted a report from the St. Louis Beacon regarding the “Save the Dream Tour,” held by NACA (Neighborhood Assistance Corporation of America) in early August. The Beacon’s article highlighted several participants who were promised loan restructures at the event only to later be given different terms or not contacted at all. [...]
Continue reading...Lessons from the Task Force meeting – seek help early!
Tuesday, September 22, 2009
KETC attended the monthly meeting of the Metro St. Louis Foreclosure Intervention Task Force last week. The goal of the Task Force is to improve the difficult housing situation faced by our local community and to bring together housing counselors and bank representatives. The group engaged in (often passionate) discussion about the mortgage crisis. One issue [...]
Continue reading...Foreclosures Increase for Prime Borrowers
Tuesday, June 9, 2009
Since the beginning of the mortgage crisis, many experts have blamed the explosion in foreclosures on risky sub-prime loans. But USA Today reported recently that the rate of foreclosure for prime borrowers has been increasing, mainly because of rising unemployment rates. To read the rest of the article, CLICK HERE. If you or someone you [...]
Continue reading...This American Life: No Map
Tuesday, May 26, 2009
A few weeks ago This American Life aired an episode called “No Map.” One of the topics covered was the mortgage crisis, and the fact that many people who are facing foreclosure have “no map”–no past experience, no guidelines–for facing the mortgage crisis. The podcast can be found in the Episode Archive–May 15, #380: “No Map.” The story [...]
Continue reading...Tune in Tonight! – 5/26/2009
Tuesday, May 26, 2009
Tonight from 8-9 p.m. KWMU–90.7 FM–will air “Hard Times in Middletown,” hosted by Kai Ryssdal of Marketplace. This will be the third of four documentaries from American RadioWorks®–the four programs help explain the current economic crisis we face today. To learn more about tonight’s program and other Facing the Mortgage Crisis programs on KWMU, CLICK HERE.
Continue reading...KWMU Programs–Updated
Tuesday, May 5, 2009
Over the next few weeks KWMU will air four documentaries from American RadioWorks. The programs will help explain the economic crisis we’re facing. Foreclosure City – Airs Tuesday, May 5th, 8:00 – 9:00pm American RadioWorks looks at the roots and the fall-out of the Las Vegas foreclosure crisis, and tells the stories of residents trying to [...]
Continue reading...Take Action
Audio / Video
The St. Louis Beacon posted a new segment in their Job Talk series earlier this week. This report describes GO! Network and its work to help unemployed professionals in St. Louis. The economic downturn has led to unemployment among groups who have never before had to worry about paying their bills on time. Among them [...]
Reverse mortgages are a complicated product and aren’t appropriate for everyone. In our final video of the series, Buz describes the basic considerations that seniors must make when determining if a reverse mortgage is right for them. We hope you’ve enjoyed these videos. A huge thanks to Buz Zeman for talking with us. Additional information on reverse [...]
The explosive popularity of reverse mortgages and the flood of advertisements that followed have spread a number of misconceptions about reverse mortgages. Buz addresses a number of them in this video, explaining what reverse mortgages are and aren’t. He also talks about popular scams and how to avoid them. Look for the final video of [...]
Several weeks ago, Lauren had a conversation with Buz Zeman of Housing Options Provided for the Elderly (HOPE), an organization that counsels seniors on mortgages and other housing issues. Buz said that he has had to devote much of his time lately to explaining reverse mortgages. Though this sort of loan is not new, it’s [...]
In this video, St. Louis Mayor Francis Slay suggests that anyone facing foreclosure or in trouble with their mortgage seek assistance and determine if they are eligible for the Refinance and Loan Modification program. More information can be found at www.makinghomeaffordable.gov.
In this video, St. Louis County Executive Charlie Dooley encourages those facing financial hardship or anyone who fears losing their home to seek assistance. Tax-payer funded, HUD-certified housing counselors offer services at no charge, and can assist someone facing foreclosure with discussing options with their lender. For information or to connect to resources, call the [...]
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- The Beacon’s Series on the St. Louis Area Foodbank
- Good News in March Unemployment Numbers
- Lessons from the Wright Family on Seeking Help
- Staring a Business – Upcoming Workshop from the Urban League
- New Employment Resource from Ready, Aim, Advocate!
- Walking Away from Underwater Mortgages
- Beacon: Foreclosure Struggles Linger in St. Louis
- From the Beacon’s Job Talk: GO! Network
- Reverse Mortgage Considerations
- Job Talk from the St. Louis Beacon
© 2010 Facing the Mortgage Crisis
in Partnership with the CPB.
Thursday, April 1, 2010
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