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...

Obama Considering Foreclosed Home Prevention Aid

The Obama administration is considering at least two options to help more homeowners under its foreclosed home prevention program. The options include loan forbearance and rental agreement. " Because of continued pressure on the Obama administration to step up its foreclosed...

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...

City’s Bank Owned Foreclosures Prevention

The city of Richmond in California has taken a proactive stance in its fight to contain the number of bank owned foreclosures in the area. City officials have decided to purchase, rehabilitate and sell these foreclosed homes to prevent them from becoming blights in the...

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...

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...

Fannie and Freddie: Control Evictions Due to Foreclosures

When Fannie Mae and Freddie Mac have been nationalized in September, they have been transformed into housing-aid agencies. They have already frozen a lot of foreclosures last year and this year, they are pioneering programs that would let borrowers rent their own properties...