Foreclosures by State
Rise in Foreclosed Home Auctions in Florida
Another month of historic foreclosure rate was experienced by Florida in April, making it number two in the country in terms of high repossession rate. And because of this, foreclosed home auctions are also on the rise. Florida registered a 32 percent increase in April to 342,038. This translated to one per 374 households receiving default and auction notices.
California, Hit by Repo Homes, Needs Loads of Cash by July
California, one of the 3 states hardest hit by repo homes, could be insolvent by July if Governor Arnold Schwarzenegger and legislators do not remedy the cash problem of the state, according to state legislative analyst Mac Taylor.
Taylor said California needs $23 billion more for the year despite the legislative remedies launched in February.
The report [...]
Renters Helped as Oregon Enters Top Ten in Foreclosed Homes
In 2008, Oregon was 21st in RealtyTrac?s foreclosure rate rankings. In February, Oregon entered the top ten list, with 1 house in 446 houses receiving a foreclosure filing. In March, it had 3,388 foreclosure filings, including 594 real estate owned foreclosed homes.
Washington State Cuts Down Repo Homes with $250,000
A total of $250,000 was set aside by Washington State legislators to help reduce the number of repo homes in the state. The bill to allot the money was unanimously approved by the state legislature last week and is expected to be signed by Governor Chris Gregoire within the week.
Foreclosure Properties in Massachusetts’ Commercial Sector
Massachusetts has not been battered by foreclosed homes as badly as California, Nevada and Arizona, but it is now being battered by foreclosure properties in the commercial sector.
Gov Programs Push Up Numbers of California Repo Homes
State and federal foreclosure intervention programs to reduce the number of repo homes in California may have been causing unintended consequences, according to Sean O’Toole, head of California forelosure tracking enterprise ForeclosureRadar.
Buying Bank Owned Repo Homes in Maryland
Enthusiastic home buyers in Maryland are finding to their dismay that banks do not have systems and staff in place to facilitate their purchase of bank owned repo homes. Many prospective buyers are adding thousands of dollars more to their home buying costs because expected closure dates are being postponed.
Indiana Attorney General Zoeller Fights Repo Homes Fraud
Distressed homeowners in Indiana can thank their state attorney for working to eliminate repo homes scammers from their state and thereby reduce the number of vulnerable borrowers losing badly-needed money to swindlers.
More Foreclosed Homes Expected in California Suburbs
More foreclosed homes are expected to flood the housing market in the suburbs of California’s Riverside County, according to housing tracking firm ForeclosureRadar, newspaper North County Times and California housing analysts.
Wisconsin Law to Aid Renters of Foreclosed Homes
Renters in Wisconsin can now relax after the state passed a law that would protect them in case their rental houses become foreclosed homes.
