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9-6 Door-to-door foreclosure outreach
Teams of volunteers hit the streets of North Minneapolis Monday evening, knocking on doors to offer help in avoiding the nightmare of foreclosure. The Northside Community Reinvestment Coalition (NCRC) and several partners and allies began working on their plan months ago. The first step was identifying at-risk homes.MORE »
When it comes to negative equity, the Twin Cities are seriously under water
A story last week by the Wall Street Journal reveals a growing and troubling trend: One in six homeowners are under water, or living in a home in which they owe more than it’s worth. Instead of having the once-relied-upon equity in their home, the mortgage crisis has created negative equity for more than 75 million homeowners.MORE »
Subprime targets: Why everything pundits and politicians are telling you about the CRA is wrong
All throughout North Minneapolis, 100-year-old trees are turning deep shades of gold and crimson. On some streets, the tall oaks look like lone survivors of a nuclear disaster, untouched by the blight over which their canopies cast long shadows. In fact, you don’t have to spend much time in North Minneapolis before a darkening picture becomes clear. Something happened here.MORE »
Minnesota's economy: Far more than mortgages at stake
Panic-invoked efforts in Washington to bail out financial institutions in New York are missing the structural weaknesses of the Minnesota economy by a country mile.
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Subprime casualties: 283 lenders have collapsed since 2006, and more are to come
A nation of whiners? Or a seriously decimated economy? The nation’s leading economists say it’s the latter, and the already crumbling financial sector is due for a series of crippling aftershocks that could last well into the next decade.MORE »
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