Foreclosed Homes

San Francisco S&P Index Down, Foreclosed Home Auctions Up

Home prices in the San Francisco metro area declined by 30.1 percent in March, compared to its 32.4-percent record decline in January, based on the Standard & Poor's/Case-Shiller Home Price Index released on Tuesday. Continued additions of units to foreclosure lists and foreclosed home auctions are pushing down home prices.

Skyscrapers Follow Foreclosed Condos to Auction Houses

As tenants walk away from commercial leases and developers are defaulting on their millions of dollars in mortgages because of lack of financing available, skyscrapers have been following foreclosed condos to auction houses.

Foreclosed Homes Devastates Black and Latino Communities

For the past two years, foreclosed homes spread across the New York region at a rapid pace. According to the “New York Times” study of foreclosure filings and federal mortgage data since 2005, the foreclosure crisis caused devastation on the housing market in the New York region.

More Homes Are Getting Foreclosed in Long Island

In April, the number of homes getting foreclosed in Long Island rose by 28.7 percent compared to foreclosure filings in March, according to California-based foreclosure monitoring firm RealtyTrac.

Staggering Cost of Foreclosed Homes to Investors

Each one of the millions of foreclosed homes across the country since the start of the subprime credit crisis costs investors a total of $151,000, according to a study done by the Congressional Joint Economic Committee. The investors referred to in the study are the homeowners, mortgage lenders, local governments and neighborhoods.

Surge in Sales of Bay Area Foreclosed Homes

Sales of bank-owned foreclosed properties in California’s Bay Area increased in January. Of the 3,918 existing homes sold, 54.2 percent were bank-owned foreclosed homes. According to San Diego-based research company MDA DataQuick, the January existing-home sales are a big increase from the 2,312 total sales in January 2008.

Fannie Mae Helps Renters in Foreclosed Homes

Renters of Fannie Mae owned foreclosed homes across the country have been given an unexpected help from mortgage firm Fannie Mae. Renters have been given the option to stay and sign a new lease with Fannie Mae or to accept financial help from Fannie Mae and find another housing.

Habitat Puts Foreclosed Homes to Good Use

While others are making a hefty profit out of the sale of renovated foreclosures, the non-profit organization Habitat for Humanity remodels to put families back into affordable homes.

The Problems Brought about by Foreclosed Properties in Cincinnati

Most homeowners in Cincinnati are under stress related to foreclosures, where there are 7,800 active listings of Bank-owned properties as of Sept. 30 in the Tri-State which adds up to the stress level of those people who still live in the said area.

Foreclosed Houses Open Doors for New Homeowners

The township of Redford is willing to spend $3.04 million of government money to purchase foreclosed houses, restore them and help low earning families buy them. The fund from the National Department of Housing and Urban Development is planned to be used within18 months.