First-Time Buyers Find HUD Homes a Good Buy

First-time buyers are coming out in full force to buy HUD homes before the expiration of the federal tax credit. Aside from low prices, buying HUD foreclosures is easy and simple. " HUD homes foreclosures are being taken off the market in great numbers. Thanks to first-time...

Massachusetts Foreclosure Homes Lead August Sales

Massachusetts foreclosure homes dominated home sales last month. In one county, real estate sales in August helped stabilize the housing market in the area. " Sales of Massachusetts foreclosure homes dominated the real estate market last month. Home sales in Plymouth...

Wisconsin City to Buy Properties on Foreclosed Home Listings

A city in Wisconsin is planning to use nearly $1.7 million in federal funds to buy properties on foreclosed home listings. The initiative is part of the federal government’s American Recovery and Reinvestment Act. " The city of Kenosha in Wisconsin is planning to use the...

Lenders Responsible for Bank Foreclosure Property Maintenance

Industry experts on New Jersey believe that banks should be responsible for the upkeep and maintenance of a bank foreclosure property. The maintenance includes cleaning and preparing the foreclosed home for marketing. " When a bank foreclosure property is neglected, neighbors...

Fannie Mae’s Foreclosure Properties Prevention Work

Fannie Mae is a government-supported enterprise tasked to work with everything that has to do with home loans, such as loan evaluation, educating vendors and renovating and selling foreclosure properties. " Federal National Mortgage Association or Fannie Mae handles troubled...

Homeowners Want Information on Foreclosure Homes Bailout

Agencies associated with President Barack Obama’s foreclosure homes bailout plan were swamped with e-mails and calls from thousands of distressed homeowners who want information about the foreclosure prevention program. " Thousands of distressed homeowners sent e-mails and...

Banks Take Advantage of Tax Foreclosure Property Listings

Last month, about 80,775 homes were added on tax foreclosure property listings in California, a 5 percent increase from January and a 51 percent jump from a year ago. Tax foreclosure property listings auctions rose to almost 179 percent in the state."According to data, six of...

Obama Expected to Sign Recovery Plan to Address Foreclosure Cr...

The U.S. Congress has passed the $787 billion economic recovery plan which is expected to include provisions to bailout banks to boost credit flow and reduce the number of foreclosed homes. " President Barack Obama has called Congress’ decision to pass the stimulus bill as...

Lenders Await Obama’s Foreclosure Prevention Program

President Barack Obama, who is currently on a road trip to gather support for his economic recovery plan, is expected to disclose details of his foreclosure prevention plan in Arizona, one of the states that suffered greatly from the housing crisis. "Details of the...

Banking Committee Chair Dodd Considers Bill to Help Homeowners...

The Senate Banking Committee, chaired by Christopher Dodd, is preparing a financial regulatory reform legislation to be released by April 2009, the deadline requested by President Barack Obama. " Already, Dodd plans to schedule hearings for several months where he expects to...

Investment Shortage, Foreclosures Threaten California Affordab...

The building of affordable housing for people with low income in San Diego County are affected by the increase in California foreclosures and lack of tax credit investments."A long list of low-income families, including owners of foreclosed homes, has been waiting for...