Foreclosure Pace Has Increased in Affluent Towns

In affluent suburbs, as people lose jobs, the speed of foreclosures have increased. However, they have slowed down in some places. These are the same towns where the subprime crisis had ignited the crisis in the real estate industry. " The Woodstock Institute says that...

One in Seven Homeowners in the United States is Behind on Payment

"About one in seven American households with mortgages is behind on payments or in foreclosure, according to new data from the Mortgage Bankers Association. That is up from about one in 10 a year ago.The group reported Thursday that 14.4% of first-lien mortgages on...

Foreclosures Will Keep Rising Through 2010

Mortgage Bankers Assn. says that foreclosures and criminality hit a new high and it sees a continued increase in foreclosure through 2010. " Home foreclosures are likely to keep climbing through all of next year despite stabilizing housing prices in some areas, a major lender...

Tendency to Walk Away from Underwater Mortgages

The government faces a new challenge: troubled borrowers are walking away from their homes in a move called voluntary foreclosure. Despite the fact that it erases away 100 points from the person's credit score, borrowers are acting like this because the value of their houses...

Foreclosures to Stay, Slight Improvement in Real Estate in 2010

How will housing industry be in 2010? Will it be better? Nobody knows but now, The United States perhaps is going through one of the most critical phases."Unemployment is at its peak and people are faltering on mortgage payments. Hence, foreclosures have become common. The...