Foreclosed Homes
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 βNew York Timesβ 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 properties for sale 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.
Benefits from Foreclosed Homes for Bargain
After going through a rough foreclosure, a property or home may sell in the market for a very minimal fraction of its original value than its original. According to a realtor, more and more homes are being listed for foreclosure. In Hamilton alone, during Thanksgiving, almost 900 Real Estate Owned homes have been for sale. [...]
