Foreclosure Rates

1.5 Million Houses on the Brink of Foreclosure

The combined number of defaults and mortgage loans in foreclosure process has now reached its highest level of 11.18 percent, according to the Mortgage Bankers Association's (MBA) National Delinquency report.

Earn Money by Flipping Florida Foreclosures

In this down housing market, you can still make money by flipping residential properties. You just have to increase your know-how on good locations, available capital, mortgage lenders, home prices and the risks involved.

Foreclosures Take a Drop from December to January

The number of Americans who are on the verge of foreclosure has decreased last January, although a year ago, it was still up from the same month. Homes lost to foreclosures would have been more if it were not for the initiatives to delay the foreclosure process.

Foreclosures Decline By 25 Percent in January

As of last January, foreclosures all over the United States have dropped by over 25 percent with majority of the severely hit states witnessing declines in the quantity of homes reclaimed by lenders. On the national level, completed foreclosures have plummeted from 97,841 last December 2008 to 72,694 this January 2009, the lowest number of completed foreclosures ever since April 2008.

Foreclosures Considered in Setting Tax Values

Georgia foreclosures have continued to soar through the past months, causing real estate properties including foreclosure homes to have very low sale prices. This has pushed the state’s legislators to act on a bill to control the situation. Senate Bill 55 states that foreclosure sales should be considered in setting the tax values of homes and other related properties.

Florida Foreclosures Could Increase by 100 Percent in 2009

South Florida foreclosure rates are expected to increase between 50 percent and 100 percent in 2009 based upon the efforts of the federal government to help homeowners of distressed properties, according to Jack McCabe, a real estate analyst and chief executive officer of McCabe Research and Consulting.

SB 1137 Caused California to Set Foreclosure Records this 2008

Notices of default deliveries slowed down in September after the passing of SB 1137, asking lenders to give delinquent payers 30 days grace period before the actual foreclosure process begins. But it seems that this legislative effort to reduce foreclosure is a failure according to Sean O’Toole of ForeclosureRadar.

Home Buying Activity in California Surged With Foreclosure Rate

After experiencing decline in the past several months, California foreclosure incidence is on a surge once again. This is a clear proof that the housing market has not fully recovered yet. Despite the increase in average home sales, the housing industry is still in turmoil as proven by the high foreclosure rate.

Glut of Unsold Houses in South Florida Despite Decrease in Foreclosures

Despite a decline in South Florida foreclosures in October compared to September, the backlog of unsold houses in the area still increased to the time-equivalent of eight months in October.

Foreclosures to Continue By Next Year

According to RealtyTrac, an estimate of 1 million property owners may be at risk of foreclosure by 2009.