e.g. Miami or Miami-Dade or Florida or 33132
There is a wide range of foreclosure victims.
The apparent foreclosure victims are the two players on the field – the borrower and the lender. Why should the lender, who is considered to be the prey, be considered a victim? Greed had propelled the banks and financial institutions to flood the market with sub-prime loans knowing fully well that within a short time the borrowers would stumble and the banks would get fat on foreclosed houses. But there were so many that the banks ate more than they could digest. This has led to indigestion – so much so that they are bedridden and on the point of collapse. The government is now applying emergency revival operations to get them on their feet again.
The borrowers are the obvious foreclosure victims. They can be divided into two classes – those that believed the sales talk of the mortgage brokers and walked into houses of their dreams. Who does not want to improve their life styles? But having been betrayed their position has become worse than before as they grapple with survival crowding in homes of friends and relations, in cars, in human shelters or under plastic sheets in tent cities. The second set of foreclosure victims are those who invested during the housing boom making fast profits. Even before the ink had dried on one sale they went on to another.
The entire construction industry together with ancillary units became direct foreclosure victims. Whole neighbourhoods dotted with vacant houses that were breeding centres of crime and disease became foreclosure victims. The worst foreclosure victims were the abandoned pets. The most important foreclosure victims were the politicians who found their thrones trembling and weak.
Southwest Valley has been heavily hit by foreclosure homes. The total number of foreclosures in the first half of 2008 in Goodyear, Avondale, Tolleson, Litchfield Park, and Buckeye were 2,195. This is an increase of 413 from what it was last year during the same time. It has been found that the increase in this [...]
Apart from real estate, foreclosed homes are also creating a big problem for the students. A large number of students whose homes have been foreclosed are going to schools but are so poor that they are unable to afford free meals even. Jefferson County, which is a 98,000 student district, including Louisville and its suburbs, [...]
The increasing rate of foreclosure homes has led to a drop in the value of home prices in the west such as Nevada and California in the month of July. This has in turn increased the rate of existing home sales. Nearly 1.1 million condominiums and pre-owned properties in the 13 state regions were sold [...]
Connecticut, a state that is ideally situated in the New England region of north-eastern USA is today a victim of foreclosures. There has been a tremendous rate of house foreclosures in the cities of Connecticut and the worst sufferer is the Windham County. Even after this, the foreclosures and distress sales of this state are [...]
According to the Conference Board, consumer confidence is at its lowest in the last 16 years. Since 1982, consumers have not faced such a bleak future in terms of jobs and inflation. With housing prices at low ebb, gasoline costing more and inflation affecting food and medical bills, consumers are indeed hard hit.
This is [...]
The former senator of North Carolina, and also a presidential contender, Democrat John Edwards is not in favor of the lenders who are filing foreclosure cases against the delinquent homeowners – especially those who are sufferers of Hurricane Katrina. Fortress Investment Group’s sub-prime lending unit has filed foreclosure suits against the 35 homeowners in New [...]
The storm of foreclosure is flooding the entire country. Still, there are some places where the rate of foreclosures has declined even though the countrywide rate is increasing. A fresh report by RealtyTrac names some areas where the rate of foreclosures has fallen compared to that in the last year.
As per the yearly average statement [...]
With the deepening of the mortgage crisis, which ultimately forced middle class families to opt for foreclosures, the stock market also got pretty shaken up. This issue was immediately sized upon by the Democratic presidential contenders. It became a perfect issue for them to accuse the republicans of letting unregulated companies of oppressing hardworking families.
The real estate industry has been affected by a wide sweep of foreclosures in recent times. Research has shown that the number of foreclosure filings in the nation has increased as much as 87% since this time last year.
With the foreclosures increasing at such an alarming pace, those in distress are naturally looking for [...]
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