Articles about foreclosed houses

Till date lenders have modified approx 235,000 mortgages during the administration of Obama. Despite this, till date, the first few months of 2009 witnessed 1.8 million foreclosures. Due to the rising rate of unemployment, more homeowners are rendered jobless and that is impeding their attempts of loan repayments.

The Federal programs aiming at modification of loan structures to cut down on the foreclosures has not gained much success.

The $75 billion program by the Obama government intending to cut down on foreclosures for sale has suffered major setbacks. A major chunk of homeowners complained about certain inaccuracies in the information by the lenders and many more commented that they did not receive any help.

One of the prime indications of an economic crunch on the realm of real estate is excessive rise in foreclosures. RealtyTrac observes that presently almost 1000 house or more have gone through either foreclosure or have been sent for auctioning in Beaufort County. This condition can still change the real estate scenario and motivate people [...]

According to a report that came out recently, houses that have been abandoned after facing foreclosure are fast becoming a haven for criminals and squatters. Houses that have been left empty after being foreclosed are quickly being populated by criminals. Those that are deemed unsuitable by them are seeing squatters move in to them over [...]

According to data released by real estate data company Radar Logic, there was a 7% increase in home sales in 2008 largely due to foreclosures, after falling around 40% the year before, mainly by buyers looking to buy at the bottom and those lured by low loan rates.
There was an increase of a whopping 177% [...]

Whoever wins the president election in November; the number of foreclosure homes in the country will keep ascending. It is unlikely the new president would be able to control the situation as the value of real estate properties including homes are slumping with an increase in mortgage day by day. These debtors even owe more [...]

Speeding up foreclosure sales may be in the best vested interest for each home owner. However, treating it as the silver bullet is really not the way. According to Dustin Hobbs, a spokesperson of a California based Mortgage Bankers Association the best of the lot in the case of any borrowers’ home can be saved [...]

A proposal for a six month suspension on foreclosures has been made by some lawmakers as the numbers of people unable to pay their mortgages are increasing. Three bills have been introduced with the purpose of providing relief to the mortgage climate and the proposal for moratorium is among them. According to the second bill [...]

The California foreclosure listing bill which targeted the ever-increasing problem of vacant foreclosed homes faced a narrow defeat last Wednesday. According to Don Perata, the sponsor of this bill, its objective was to make sure that people stayed in their own homes. However, the Republicans in the Senate argued that the bill would be an [...]