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Growing Number of Renters Affected by REO Properties Crisis
Tenants' advocacy groups said that national legislation that include some protections for renters evicted from REO properties are not enough to address the growing problem. The new rules require lenders who are about to foreclose on a property to allow tenants to stay for at...
Habitat for Humanity Restores Foreclosed Homes for Sales
A program to acquire and fix foreclosed homes for sales in a foreclosure-battered neighborhood of Menlo Park has been launched by Habitat for Humanity’s San Francisco chapter. The restored homes will be sold to families earning between 40 and 60 percent of Belle Haven’s... Wisconsin Law to Aid Renters of Foreclosed Homes
A state law in Wisconsin has given protection to tenants threatened with immediate eviction from foreclosed homes. The law requires landlords and mortgage lenders to notify tenants in writing when foreclosures are filed. " Renters in Wisconsin can now relax after the state...35 Counties Push Up Foreclosures by State Rankings
A USA Today study contends that foreclosures in 35 counties located in just a few places high on foreclosures by state rankings may have started the crisis that battered mortgage banks and ultimately the whole country. " Thirty-five counties accounted for over 50 percent of...2008 Foreclosure Records in Florida and California Implies Wor...
The 2008 US foreclosure index report, which has been released last January 14 by Foreclosures.com has proven a really bad situation of the housing industry in 2008; and this could actually get even worse for 2009."The said website babes its analysis on formal notices that...Florida Governor Crist Backtracks on Foreclosure Moratorium
Florida Governor Charlie Crist has taken back his proposal of suspending foreclosures across the state during the holidays after meeting with Alex Sanchez, the president of the Florida Bankers Association. "Sanchez has apparently explained the position of the banking industry... Stolen Copper Wirings and Vandalism May Lead to Demolition of Foreclosed Prop...
Several foreclosed homes in Kansas City, Missouri have been vandalized and there were also reported cases of copper theft. These incidents have made it even tougher to sell homes that have been foreclosed, adding the tight economic market."Dan Thomson, a real estate agent in... Drop in Home Prices Blamed on Foreclosure Sales
Some studies showed that areas that see an increased in foreclosure sales experienced a 1 percent drop in home market values. Most often the drop in home market prices is due to a buyer’s perception of the neighborhood, which may ultimately lead to his refusal to reside in...Condos in Foreclosure Create Problems for the Association
In the last couple of years, the housing industry has been in very bad shape — thanks primarily to the growing number of foreclosed properties including condo units. For this reason, many condo associations are having problems involving fee collection. "National...100 Missouri Foreclosure Homes Attract Bargain Hunters
There are a couple of things that are delighting home buyers lately. The first is the low home prices and second is the large inventory of homes for sale in the market. For these reasons, it is not surprising that...Indiana Communities Shell Out $85K for Each Foreclosure Home
The foreclosure crisis has not only resulted to Indiana homeowners losing their homes. It also cost most communities in terms of lowered home values. According to the housing advocate ACORN, communities spend...Maryland Foreclosure Homes Sales on a High
In U.S., the dangling trend seen in property market over a period of year has lead to an estimated 55% rise in the foreclosed property trading, with the activity surging up to 7.5% over last two months. Market...Foreclosure Seller Tip: Following Up on Your Potential Buyers
Following up on potential buyers, contrary to what many people believe, should not only be done when a potential buyer says “Goodbye” after checking out the foreclosure property you are selling. You should...California Residents Receive Foreclosure Relief
Ever since the subprime mess erupted, California has consistently been among the states with the highest foreclosure rate. The number of foreclosure filings increased by so much that the state government finally...
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