Category Archives: Foreclosure News

Foreclosure Rates Down, Analysts Surprised

USA Foreclosures 101

CNBC’s The Street reported here that foreclosure rates in the United States dropped 30% for the first quarter of 2012 as compared to the same time last year; this despite the fact that there was an overall 8.1% increase this past March. While this is good news for the average homeowner, it has the analysts completely flummoxed. According to the CNBC report “analysts had expected this number to skyrocket immediately following the $25 billion settlement between … Continue reading →

Foreclosure Affecting More Than Just Homes

USA Foreclosures 101

In light of the continually troubled housing market it’s understandable that the vast majority of attention being paid to foreclosures is squarely on distressed homeowners and their properties. But truth be known, foreclosures go far beyond just residential properties. All over the country commercial enterprises are finding themselves in serious financial trouble as well. Among some of the hardest hit are America’s churches. Such is the case with Faith Christian Church of Lakewood Ranch, Florida. … Continue reading →

Foreclosures Hurting Sales Of New Homes

USA Foreclosures 101

There have been several reports over the last couple of weeks suggesting the number of foreclosed homes being put back on the market will increase significantly heading into the summer months. Some of those reports indicate real estate values will fall as the number of properties available to buyers grows. If so, what does it mean for new home sales heading in the future? The Wall Street Journal’s Smart Money says the rise in foreclosures being … Continue reading →

Bank Of America Introduces New Foreclosure Options

USA Foreclosures 101

There’s been a lot in the news recently regarding the relationship between foreclosed homes and the rental market. Attention has been focused on the rights of renters living in foreclosed homes as well as real estate investors purchasing foreclosed homes for use as rental properties. But Bank of America has entered the discussion with the announcement of a new program that could ostensibly turn current homeowners into renters if conditions are right. According to an … Continue reading →

Renters Protected During Foreclosure

USA Foreclosures 101

With the foreclosure settlement out of the way and the pace of foreclosure proceedings picking up, there is a lingering question about the fate of renters currently living in homes going through foreclosure. The question is getting even more scrutiny now that private investors are beginning to view foreclosed properties as an opportunity to make good money in the real estate market. Fortunately, there are protections in place that prevent renters from being thrown out … Continue reading →

Investors: The Key To The Housing Recovery

USA Foreclosures 101

A story in the Chicago Tribune, dated March 20 2012, poses an interesting question in regards to the housing market and the potential of private investors in helping along the recovery. The story opens by referencing a former employee of a New York-based private equity firm who left his company in order to start a real estate business. Dan Madger has begun purchasing foreclosed homes at reduced prices and making them available on the rental … Continue reading →

Abuse Of Foreclosures Increasing Across America

USA Foreclosures 101

According to experts and officials who have conducted research across America, foreclosure abuse is now becoming rampant. This story comes out of a report conducted by the California city of San Francisco which revealed that foreclosure abuse was widespread. Of the 400 foreclosures which were audited for the report, 84% of them were apparently illegal. Many experts are now assuming that the figures revealed in San Francisco are also reflective of the true state of … Continue reading →

New York Joins Other States To Move Foreclosures Along

USA Foreclosures 101

Frustrated by long delays and the seeming inability of mortgage lenders to complete the loan modification process, New York State’s courts are adopting new procedures that would allow judges to exercise more control over individual foreclosures. The measures are expected to help speed up the foreclosure process by forcing lenders to either modify loans according to the law or complete the foreclosure altogether. New York joins 19 other states taking similar measures to help bring … Continue reading →

Foreclosures On The Rise Among Wealthy

USA Foreclosures 101

During the last few months of 2011 we were treated to nightly reports about the Occupy Wall Street movement and its offspring around the country. One of the chief complaints coming from the occupiers is their perception that the wealthy keep getting wealthier off the backs of the poor. The “One Percenters,” the occupiers allege, are making life miserable for the rest of the country by stealing all the wealth. If you sympathize with the … Continue reading →

Foreclosures And The Future

USA Foreclosures 101

When the housing market suffered a dramatic hit in 2007, foreclosures in Washtenaw County, Michigan went up by roughly 65%, with thousands forced to go through the foreclosure process each year. But the devastating effect of foreclosures in Washtenaw County is not just confined to this area because this could be a precursor to the continuation of foreclosures in other declining areas like Detroit. However, some states should take notice of Michigan’s decision to introduce … Continue reading →