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A report from Bloomberg said that defaults of credit cards in the United States rose by 11.49% in August. The number is up from the 10.52% it increased from the month of July. The percentage reflects complete write offs and not delinquencies that are still …

Short sales are when a lender agrees to take less than the current value of a mortgage in order to avoid a long and drawn out foreclosure process. Short sales have really become popular in the last year as more and more Americans continue to …

CNN.com has a new and interactive-ish  map that lets you see the foreclosure rate by state as well as bank failure rates by state. It appears as though the Sunshine State leads the country in foreclosures.
Florida’s foreclosure rate is 7.32% followed by Nevada at 5.58%

http://money.cnn.com/news/storysupplement/economy/bank_failures/index.htm

A woman in Florida has recently held off the bank that is holding her mortgage from foreclosing just by asking them to prove that she owed them anything.
During the real estate frenzy of the past decade, mortgages were sold and resold, bundled into securities and …

Phoenix – Arizona, one of the hardest hit real estate markets, is also getting hit hard in the job market. With layoffs by the thousands and the highest foreclosure rate in the country, people have to find new ways to generate income outside of …