According to RealtyTrac, the number of fresh foreclosure filings in the country has increased by 7% this March, the third consecutive month showing an increase in foreclosure numbers. This increase in foreclosures shows that the foreclosure crisis is not over for the country.
The first three months of 2012 in Beaufort County experienced a remarkable rise in the total number of foreclosures. In comparison to the last quarter of the previous year, there has been a straight 40% increase in the total number of foreclosed properties from January to March 2012.
Recently, CoreLogic has published the National Foreclosure Report for the month of February which reveals the present status of delinquency rates and foreclosure inventory in the country. According to this report, there were nearly 65,000 foreclosure cases which were completed this February.
On the basis of a report published by a Los Angeles based company, RealtyTrac which keeps track on all the housing transactions, the rate of foreclosure activity in the metro area of Scranton—Wilkes-Barre—Hazleton moved down by 41% in the first three months of 2012 in comparison to the same period a year ago.
A bipartisan advocacy agency in Washington DC, First Focus deals with family welfare. This agency has recently published a report which reveals that nearly 2.3 million US children have been affected due this prolonged 5 year foreclosure crisis.
After the 49-state settlement with the five leading banks of United States, lenders have started processing all their backlog foreclosure cases. This has moved up the rate of foreclosure filings in nearly 26 states of the country from April 2012.
The federal regulators of United States are getting ready to assault eight financial agencies of the country which includes PNC Financial Services in Pittsburgh, SunTrust Bank, US branch of HSBC, OneWest, MetLife, Goldman Sachs, US Bancorp and EverBank.
The federal and state courts of Oregon are giving a variety of opinions about the controversial electronic mortgage registration system which has been used all across the nation to carry out foreclosure processing. With so many different opinions from courthouses, the matter will soon move to the Supreme Court for proper justice.
According to an analysis by Detroit News, nearly one fourth of the foreclosed properties of 2006-07 has been demolished or is waiting demolition. For the Mayor of Detroit, Dave Bing, it is his top priority to reshape the city with foreclosure free neighborhoods.
In a report about Rhode Island, it has been stated that the foreclosures in this state have taken a huge toll on the tenants here because there is a huge supply of multi-family properties. Owing to this large stock, the foreclosure inventory is shrinking and the impact of this is reflecting on the home prices here, which are increasing on a regular basis.
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