Starting in 2002, the Colorado legislature began to make it easier to foreclose on properties in Colorado. Original loan documents are no longer required to prove the bank actually owns the property.
Oct 1, 2011 The Denver Post
As bank-owned homes become a source of blight and crime, cities struggle to effectively hold banks accountable for their maintenance. Large banks tend to be the worst offenders, often failing to remove trash and weeds or paying fines.
Sep 10, 2011 Contra Costa Times
I recently finished reading Foreclosing the Dream, by William Lucy. The most interesting parts of this book are the first chapter and the last appendix, both of which tell us where foreclosures are (or at least were in 2008, before the foreclosure crisis morphed into an international economic downturn). These figures seem to me to debunk at least a couple of the more popular explanations of the foreclosure crisis, such as:
Myth 1: "Its all the fault of too much lending to the urban poor."
Mar 21, 2011 By
Just as failing industries marked the decline of the Midwest after WWII (hence the name 'Rust Belt'), the new declining cities will be denoted by their percentage of foreclosures, found particularly in California, the Southwest, and Florida.
Jan 10, 2011 International Business Times
To be sure, Celebration still has amongst the highest real estate values, about twice Florida's median value. Yet the foreclosure rate of one of every 20 residents is twice that of the state's.
Dec 17, 2010 Bloomberg News via San Francisco Chronicle
This New York Times editorial argues that the present strategy to fix the housing mess isn't working; real relief in the form of principal reduction is needed.
Jan 5, 2010 New York Times
As part of an art exhibition about housing, artist Damon Rich used the Panorama of the City of New York- a 9,000 sq. ft. model- to illustrate the foreclosure crisis.
Jul 8, 2009 The New York Times
As the economy continues to lumber through the most protracted period of recession since the early 1980s, the financial sector has received the brunt of the blame. Opinion
Mar 7, 2009 By
Editorial: Long Island is one of the nation's most affluent suburbs. With very high housing values and located by NYC, it would be not expected to be hit hard by the subprime crisis. But it has - and its roots lie in its racially segregated past.
Nov 6, 2008 The New York Times