This blog is a place for journalists to discuss their experiences covering poverty. It works in tandem with onpoverty.org, a site run by Washington and Lee University's American Poverty Journalism Center.

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One North Carolina county’s foreclosures defy national trends

09/18/2009 GRAHAM CAWTHON THE STAR CLEVELAND COUNTY, N.C.
Though the recession has sent national foreclosure rates soaring, Cleveland County, N.C.’s foreclose rates have actually fallen even though unemployment continues to rise. One bankruptcy attorney says the numbers may be misleading because Fannie Mae and Freddie Mac are observing a foreclosures freeze. Protection laws have also been enacted to protect homeowners from foreclosure and from intimidating debt collection practices.

Original story

Labels: bankruptcy, Cleveland County, Fannie Mae, foreclosure, Freddic Mac, long-term unemployment, recession

posted by Valaree and Brea at 5:34 PM  |  0 Comments  |  Talk about it!

 

Rhode Island jobs seem unlikely to recover before 2013

10/27/2008 RAY HENRY ASSOCIATED PRESS VIA BOSTON.COM PROVIDENCE, R.I.
Rhode Island leads the nation in unemployment, with an 8.8 percent jobless rate as of September, and economists do not expect a full recovery until 2013. The state began the fiscal year in July with a $37 million deficit, and tax collections since then have fallen millions of dollars short of expectations. Rhode Island’s housing market continues to drag down the state economy with a foreclosure rate of 15 percent, the fourth-highest in the country.

Original story

Labels: foreclosure, jobless rate, Rhode Island, unemployment

posted by Valaree and Brea at 4:03 PM  |  0 Comments  |  Talk about it!

 

Senate agrees to move forward on stalled housing bill

CNN
Democrat Harry Reid says the Senate is ready to stop "bickering" and start negotiations on a housing bill that would provide relief to those in subprime loans. The bill would also provide money for communities to buy and refurbished foreclosed properties. Disagreement over a bankruptcy forgiveness clause has stalled voting.

Original story

Labels: bankruptcy, foreclosure, housing, Senate, subprime

posted by Anonymous at 10:55 PM  |  0 Comments  |  Talk about it!