Foreclosures

As the nation’s financial floor crumbles and homeowners continue to slip into foreclosures, St. Tammany residents are no exception. The parish now ranks third statewide for mortgage defaults, according to a nationwide foreclosure database.

BOSTON, Oct. 6 (UPI) — Homelessness in Massachusetts is at an all-time high and is likely to continue to rise because of surging home foreclosures, advocates for the homeless say.

Depression survivors worried but don’t see history repeating Bank failures, plunging stock prices, mortgage foreclosures, rising unemployment — no wonder the specter of the Great Depression has been invoked repeatedly in the current financial crisis.

Banks are taking longer to claim posession of foreclosed properties, leaving some neighbors staring at unsightly yards.

The rescue package for the financial system includes measures designed to stem the rising tide of foreclosures. Here’s a look at the specifics. The $700B rescue package includes measures to stem foreclosures. Here are the specifics

For the first time, the state is tracking how many families are winding up homeless due to foreclosures.

In Lehigh County, foreclosure filings this year have already exceeded those of 2007. In Northampton County, they’re on track to dwarf last year’s mammoth number.