Foreclosure Crisis
Demand Up in Areas With High Bank Foreclosure Listings
Wednesday, July 1st, 2009Homebuyers could be seen flocking on areas where there are high Bank Foreclosure Listings. Encouraged by below market values, $8,000 federal tax credit for first-time homebuyers and low interest rates, more and more people are vying for foreclosure properties as aggressively as speculators during the peak of the housing market.
Rising Delinquencies Means More Repossessed Homes
Monday, June 29th, 2009More and more American homeowners are defaulting on their monthly mortgage payments but are not yet on foreclosure proceedings. About 1 million borrowers made up the backlog of delinquent loans making the prospect of recovery from repossessed homes impossible to attain.
Renters in Bank Foreclosure Homes Increasing
Monday, June 15th, 2009Renters are the latest casualty in the ever-growing foreclosure crisis in California. More and more tenants are scrambling to find cheap places to stay after they discovered that the properties they are renting are bank foreclosure listings.
Increase in Prime Loans on Bank Foreclosure List
Wednesday, June 10th, 2009The pace at which prime loan borrowers are going into Bank Foreclosure List is accelerating, particularly in states where unemployment rate is mounting and property values are dropping like hot potatoes.
Repossession Property Prices Fall, Affordability Rises
Friday, June 5th, 2009Home affordability has reached record levels nationwide as new home prices and repossession property prices continue to go down. According to a study by IHS Global Insight on U.S. homes prices, the average house has lost value by 12.2 percent.
Impact of Foreclosure Properties on Lowe’s and Home Depot
Tuesday, June 2nd, 2009The sales performances of home improvement retailers Lowe’s and Home Depot CEOs are closely tied with various stages of foreclosure and the number of foreclosure properties, according to the chief executives of the country’s two largest home improvement retailers.
Bank Foreclosure Property, Recession Ravage a City
Monday, June 1st, 2009Recession has severely damage the economy of the United States. It created a flood of bank foreclosure property and massive layoffs. No place can better demonstrate the impact of recession and bank foreclosure property crisis than the city of Baltimore in Maryland.
One in Eight Homeowners Delayed or in Foreclosed Housing
Monday, June 1st, 2009One in eight homeowners across the nation was behind in mortgage payments or already in foreclosed housing in the first quarter, according to a report released by the Mortgage Bankers Association this week. MBA cited unemployment as the main factor.
A New Wave of Foreclosures Homes Expected in Sacramento
Friday, May 29th, 2009The Sacramento area has been generally considered by real estate analysts as a potential model for housing market recovery. But according to foreclosure tracking service ForeclosureRadar.com, over 20,000 distressed homes in the area can become foreclosures homes in the next several months. These distressed homes can slow down expected market recovery.
Foreclosed Homes Devastates Black and Latino Communities
Thursday, May 21st, 2009For 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.