Project: Buy on Foreclosed Homes List, Fix, Sell to Veterans

A nonprofit organization has launched a project that aims to purchase on foreclosed homes list, rehabilitate and sell them to disabled veterans. The two individuals responsible for the project said that this is their way to help the federal government alleviate the effects of...

Unemployment Drives More Foreclosed Houses in Decatur

The number of foreclose houses in Decatur keeps on rising because of the rising joblessness rate in the city. Decatur’s unemployment rate in April was among the highest rates in Illinois. " As joblessness worsens in Decatur, the largest city in the Illinois county of Macon,...

City Pressured to Ease Fines on Bank Owned Foreclosure

A California city's measure requiring lenders to maintain bank owned foreclosure is receiving flak from critics. The city is being pressured to lower fines and penalties and give lending institutions more time to repair and improve foreclosed properties. " The city of Chula...

Foreclosed Houses Over 34 Percent of Orange, California Sales

In May, the percentage of foreclosed houses in total home sales in Orange County, California is still big at 34.2 percent despite a drop from the peak foreclosure share in January. Banks repossessed nearly 600 houses in May."The percentage of sales of foreclose houses in...

San Diego Mansion, Now Just One of Many Foreclosed Homes

A mansion once standing as among the most spectacular mansions in the city of San Diego is now just one of thousands of foreclosed homes in California. Not only that, it was also stripped of about one million dollars worth of fixtures, equipment and appliances."A...

Aurora Finalizes Plans for the $4.5 Million HUD Foreclosure Funds

Joseph Garcia has been going around his city of Aurora in Colorado as manager of the city’s Community Development Division, inspecting neighborhoods with lots of foreclosed houses. He has been evaluating abandoned and repo homes as he finds ways to help the city allocate...

Oakland Tackles Foreclosed Homes With Federal and State Money

Oakland has been granted an allocation of $8.2 million from the U.S. Federal Housing and Economic Recovery Act to rehabilitate foreclosed houses in the city, but it must submit specific proposals by December 1 on how to help residents at risk of foreclosures and on how to...

Preventing Foreclosures Should Be One of the New President’s First Actions

Whoever between Barack Obama and John McCain is elected U.S. president on November 4, 2008 will have to work with great urgency, together with his advisers, members of Congress and agency heads, to create remedies to solve mortgage and foreclosure problems and establish...