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NEWS
By Meredith Cohn, The Baltimore Sun | October 20, 2011
The devastation of losing a house to foreclosure can lead to depression and a host of other conditions, according to the authors of new study who warn of a looming national health crisis. They are advocating for a new unified approach by financial and mental health advisers to provide homeowners with aid. The study, led by a University of Maryland researcher, found that one in five people in default on their mortgages have serious symptoms of depression. About one-third have seen their finances so crimped that they cannot afford to fill prescriptions and get enough to eat, which worsen health problems.
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NEWS
By Michael Dresser | March 4, 2014
Democratic gubernatorial candidate Heather R. Mizeur on Tuesday accused her front-running rival, Lt. Anthony G. Brown, of playing “petty, cynical politics” when he criticized Attorney General Douglas F. Gansler over Maryland's burgeoning rate of home foreclosures. At a State House news conference, Mizeur said Brown as well as Gansler -- the other Democrat in the race for governor -- must be held accountable for the state's foreclosure rate. She said the state had seen a 275 percent increase in foreclosures last year and now ranks No. 2 in the country in that rate.
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BUSINESS
By Lorraine Mirabella and Lorraine Mirabella,lorraine.mirabella@baltsun.com | April 10, 2009
Maryland and other states now receiving federal housing recovery money are taking the first steps toward stabilizing neighborhoods hurt by home foreclosures, says a report released Thursday by Columbia-based Enterprise Community Partners Inc. Enterprise, a nonprofit affordable-housing investor, analyzed plans by some of the 306 state and local governments that received grants through a $3.92 billion Department of Housing and Urban Development program to...
BUSINESS
By Steve Kilar and The Baltimore Sun | February 26, 2013
The National Mortgage Settlement's relief is not reaching enough Maryland homeowners and is not as effective as it could be in keeping people in their homes, the Maryland Consumer Rights Coalition said Tuesday. “The number of Maryland families facing new foreclosures continues to dwarf those getting help under the settlement,” said Marceline White, the group's executive director, in a statement. Between March 1, 2012 and the end of last year, about 14,200 homeowners received assistance through the settlement, intended to resolve accusations by 49 states and the federal government that five major mortgage servicers abused borrowers during the foreclosure process.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | February 16, 2012
The number of Maryland homeowners behind on their mortgage payments but not yet in foreclosure inched downward in 2011, numbers released Thursday showed. It was the second consecutive year of improvement, but it wasn't enough to bring the state back to the levels seen before the foreclosure crisis began in 2007 — or even close to those levels. More than 100,000 homeowners without pending foreclosure cases were at least one month behind on payments at the end of last year, compared with an average of 50,000 at year-end in the first half of the last decade.
NEWS
February 21, 2010
In many respects, Maryland is weathering the recession better than most other states, but not when it comes to foreclosures. The number of foreclosure events -- either final dispositions of foreclosures or court filings -- increased in the final three months of 2009 to nearly 17,000. That's 13.4 percent higher than the previous quarter and nearly 70 percent higher than the previous year. Hardest hit by far is Prince George's County, followed by Baltimore City. The foreclosures have crippled the state's housing market and driven down real estate values, compounding economic woes that could last for years.
NEWS
January 7, 2011
I want to applaud Jamie Smith's Hopkins' article on the Maryland Mortgage Program ( "State mortgage program lags on modifying loans," Dec. 21). It was right on! Governor O'Malley has taken credit for Maryland being in front of the foreclosure crisis. The truth is Maryland lags behind, as the article indicated. Housing Secretary Raymond Skinner and his aide Clarence Snuggs are making Maryland the laughing stock of the affordable housing industry. Not only have the governor and his agency let its citizens down in foreclosure assistance, they lags behind many states in multi-family projects funded by federal tax credits.
NEWS
April 13, 2009
Here are excerpts from a speech on the nation's foreclosure crisis delivered by James H. Carr, chief operating officer of the National Community Reinvestment Coalition, at an April 3 symposium at the University of Baltimore School of Law, co-sponsored by Baltimore Neighborhoods Inc. Foreclosure is the death of an important American dream - the dream of homeownership. It's a financial death for many families, often leading them to financial ruin. It's also a death of the prospect of passing significant wealth to children.
BUSINESS
By McClatchy-Tribune | August 15, 2007
WASHINGTON -- A central California agricultural town, the automobile capital of the world and a down-on-its-luck gambling hot spot had the nation's highest rates of foreclosure filings for the first half of 2007, according to real estate data released yesterday. Stockton, Calif., Detroit and Las Vegas - three areas with vastly different economies and demographic trends - have all been hit hard by the nation's growing foreclosure crisis, which is ravaging both major urban areas and middle America.
NEWS
By Michael Dresser | March 4, 2014
Democratic gubernatorial candidate Heather R. Mizeur on Tuesday accused her front-running rival, Lt. Anthony G. Brown, of playing “petty, cynical politics” when he criticized Attorney General Douglas F. Gansler over Maryland's burgeoning rate of home foreclosures. At a State House news conference, Mizeur said Brown as well as Gansler -- the other Democrat in the race for governor -- must be held accountable for the state's foreclosure rate. She said the state had seen a 275 percent increase in foreclosures last year and now ranks No. 2 in the country in that rate.
NEWS
By Edward J. Pinto | December 31, 2012
Imagine that a federal agency wanted to hurt America's working-class families on purpose. How would it inflict maximum damage? It might start by aggressively marketing homeownership to marginal borrowers. It would tell them that bad credit scores aren't a problem. It would push them into homes they can't afford, saddle them with loans that barely build equity and provide no incentives for fiscal discipline. And when many of these homes go underwater and into foreclosure, it would leave families in financial ruin.
NEWS
November 13, 2012
In the wake of Mitt Romney's loss to President Barack Obama, many in the Republican Party are soul-searching, to determine where their man went wrong in his attempt to attract a majority of voters. Was it because he was stiff and un-relatable or because he seemed willing to take any position to get elected? Or that he should not have attempted to coast over the finish line after a strong first debate performance? One key area being examined is why Republicans nominated a candidate from big business as the nation was trying to recover from a recession that many think was brought on largely by the excesses of big business (i.e.
BUSINESS
By Steve Kilar and The Baltimore Sun | November 2, 2012
The number of U.S. homes lost to foreclosure in September was half the number in September 2010 - the peak month of the foreclosure crisis, according to data released Wednesday. In September, there were 57,000 completed foreclosures across the country, real estate industry analysis firm CoreLogic reported in its monthly National Foreclosure Report. A year prior, in September 2011, there were 83,000 completed foreclosures. "Increasingly improving market conditions and industry and government policy are allowing distressed homeowners to pursue refinancing, loan modifications or short sales rather than foreclosures,” said Anand Nallathambi, president and CEO of CoreLogic, in a statement.
BUSINESS
Jamie Smith Hopkins | June 22, 2012
If you're a local Bank of America borrower behind on your home mortgage, chances are you've received an invitation to come chat in Baltimore. The company is holding a foreclosure-prevention event next Thursday through Saturday -- June 28 through June 30 -- at the Baltimore Hilton for customers whose loans it services. It's one in a series of face-to-face events that Bank of America and other mortgage servicers have put on. In other cases, they've participated in events organized by groups or political leaders . The appeal of in-person?
FEATURES
By Jill Rosen and The Baltimore Sun | May 3, 2012
Rep. Elijah Cummings wants folks to know that he's keeping it real. Like really, really, really real. Starting with where he lives. He told a crowd at Howard University Wednesday just how down-and-dirty real his Baltimore neighborhood is. “I live in the inner, inner, inner-city. I'm one of the few congresspeople who live in the inner, inner city," The Hill reported Cummings saying. "You know, I ain't living close to the inner city, I'm right there on the 'Do the Right Thing' block.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | February 16, 2012
The number of Maryland homeowners behind on their mortgage payments but not yet in foreclosure inched downward in 2011, numbers released Thursday showed. It was the second consecutive year of improvement, but it wasn't enough to bring the state back to the levels seen before the foreclosure crisis began in 2007 — or even close to those levels. More than 100,000 homeowners without pending foreclosure cases were at least one month behind on payments at the end of last year, compared with an average of 50,000 at year-end in the first half of the last decade.
NEWS
September 27, 2011
I received the Sept. 25 edition of The Sun and was disgusted to see a full-length ad for Wells Fargo on the front page. While it's bad enough to turn the front page over to an advertiser, it's even worse to allow a corporation deeply implicated in our community's foreclosure crisis such a prominent forum to whitewash its image. Adding the words "advertising pullout" in small print doesn't make it OK. Rather than selling the front page to Wells Fargo, a responsible newspaper would be reporting on its activities in the home loan industry.
ENTERTAINMENT
By Jamie Smith Hopkins, The Baltimore Sun | September 13, 2011
The executive director of Baltimore-based Civil Justice, a nonprofit legal-help group best known for its foreclosure defense work, announced Tuesday that he will be stepping down to join a private law firm. Phillip Robinson said his departure date hasn't been set — he will remain with Civil Justice as it conducts a national search for his replacement — but he hopes the handoff will happen in January. He intends to join Legg Law Firm in Frederick. In Robinson's eight years at Civil Justice, the small nonprofit has worked to improve Marylanders' access to legal expertise, especially in real estate matters.
NEWS
By Hanah Cho, The Baltimore Sun | February 9, 2012
Maryland Attorney General Douglas F. Gansler has agreed to join other states in a $25 billion settlement with the nation's five largest mortgage servicers — a landmark agreement that would provide nearly $1 billion in aid to Maryland homeowners who were victims of shoddy and illegal foreclosure paperwork practices. The banks — Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial — would pay to help homeowners across the country who have lost their homes to foreclosure and those who are still at risk of foreclosure.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | January 18, 2012
A state task force is recommending a raft of changes to give Maryland homeowners a better shot at avoiding foreclosure and — when foreclosures do happen — to give neighborhoods a greater chance at recovering. The suggestions, presented Wednesday to a House committee, range from voluntary mediation before a foreclosure case is filed to tax incentives for homeowners who purchase a foreclosure. Some, including those two examples, would require legislation. But many of the recommendations are intended to be just that — recommendations.
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