Foreclosures by State
Refinancing Aid for New Jersey Homeowners Facing Foreclosure
Lawmakers on the New Jersey Senate and Assembly have approved the Mortgage Stabilization and Relief Act, a law that would provide help to owners of distressed properties to refinance their homes or remain in their houses as tenants.
Increase in Foreclosures Drags Home Price in Northern California by 41 Percent
Median home price in Northern California went down by 41 percent in October as home buyers continue to buy foreclosed properties. From $631,000 of last year, average price is now down to $375,000.
Stop Foreclosures, Massachusetts Community Leaders Demand
Several community organizers and religious leaders from Massachusetts will meet in the nation's capital with members of President-elect Barack Obama's transition team, Treasury officials and lawmakers to urge them to launch significant loan modifications to avert the rapidly rising rate of foreclosures across the country.
Governor Corzine Urges Foreclosure Solution
New Jersey Governor Jon Corzine has called on the U.S. federal government to use a large portion of the $700 billion Troubled Assets Relief Program (TARP) approved by Congress in October 2008 to rescue repossessed properties and prevent further foreclosures.
Crist’s 45-Day Moratorium May be Late for Some Florida Foreclosures
Florida is the third state in the U.S. with the highest rate of foreclosure. To help homeowners in the state who are facing the threat of foreclosure, mortgage lenders and Governor Charlie Crist have agreed to impose a 45-day moratorium on foreclosures during holidays.
Moratorium on Foreclosures Lobbied by California Activists
The Greenlining Institute has started a movement in California seeking for a moratorium on foreclosures. This advocacy group has expanded their appeal base by meeting with federal officials and House representatives.
60 Percent of Homeowners in 6 States Are Facing Foreclosure Threats
An estimated 60 percent of homeowners in Arizona, California, Florida, Georgia, Michigan and Nevada owe mortgages to banks more than the market value of their properties.
Michigan Should Leave Foreclosures to Lenders
Michigan Governor Jennifer Granholm’s plan to suspend the foreclosure process through legislation would have unintended consequences. It would lull homeowners into false security about their homes, making them postpone plans to find help. It would also force lenders to reject most potential homeowners.
Pennsylvania and Michigan Threatened by Foreclosure Problems
The U.S. economic crisis has taken its toll on real estate ventures. The hardest hit is California, Florida and Nevada. Although the problem is not as severe, Lehigh Valley and Northampton housing problems have led to Pennsylvania foreclosures.
New York’s Foreclosure Data Inaccurate?
The data of foreclosure filings obtained in New York, counting that of Erie County are said to be incomplete. This is the danger of depending only on one research firm, which has not perfected yet the act of data collection.
