Foreclosure notices were reported on nearly 1-million U.S. residential properties in the third quarter, marking a five percent increase from the second quarter, according to RealtyTrac. One in every 136 residential properties received a foreclosure notice in the last three months. Some 937,840 properties had foreclosure notice filings. However, notices dropped four percent in September… Continue reading Foreclosures Rise in Third Quarter
Category: Foreclosure
Foreclosures Could Hit 25 Million
By Mike Colpitts The huge number of homeowners who say they will walk away from mortgages if housing prices keep falling could have long lasting repercussions for the U.S. economy that would take years to emerge from. According to a new survey conducted by Housing Predictor, as many as 25-million homeowners may walk away from… Continue reading Foreclosures Could Hit 25 Million
Finding Your Housing Value System
By Lois A. Vitt Are you stuck trying to make a housing decision? Small wonder. Your housing decisions are about everything in your life, not just the design and location of your home. They involve your inner motivations, desires, and well-being as surely as the objective circumstances of managing your housing-related finances or the logistics… Continue reading Finding Your Housing Value System
Investors Slammed by Housing Crash
By Mike Colpitts Homeowners are facing an economic crunch from the housing crash, but investors often face even more severe repercussions. More than 1 in 3 foreclosures are of investment owned properties, and should the foreclosure epidemic worsen as forecast that number is expected to rise as more investors walk away from mortgages. During the… Continue reading Investors Slammed by Housing Crash
Congress Finally Proposes Homeowners Help
By Kevin Chiu A proposal to halt the record number of foreclosures and force lenders to work with homeowners to modify mortgages was introduced in the Senate Wednesday by Rhode Island Senator Jack Reed. Rhode Island is one of the worst 10 states to be affected by the foreclosure epidemic. The bill would establish a… Continue reading Congress Finally Proposes Homeowners Help
Pilot Program Could Help Home Foreclosures
By Mike Colpitts The federal government response has been painstakingly slow to the foreclosure epidemic. But one city councilman is proposing a pilot program that could give mortgage holders of distressed homes a chance to stay in their residences amid the worst economic downturn in a generation. The program, already approved by the Los Angeles… Continue reading Pilot Program Could Help Home Foreclosures
Foreclosures Maintain Record Rate
Foreclosure filings fell less than one percent in August from the record high foreclosure rate in July, according to the monthly RealtyTrac foreclosure report. Some 358,471 properties had filings, keeping activity 18% above a year ago. One in every 357 U.S. households received a foreclosure filing during the month. After hitting a high for the… Continue reading Foreclosures Maintain Record Rate
Comparing Today’s Financial Crisis to Great Depression
By Chris Tyler Comparisons between the current financial crisis and the Great Depression are becoming less common these days as the economy seemingly makes strides towards recovery. However, with growing unemployment, rising business failures, climbing bankruptcies and a growing epidemic of foreclosures progress is difficult to gauge. Most economists say the nation has moved into… Continue reading Comparing Today’s Financial Crisis to Great Depression
Banks Wage Financial War
By John Hines Economist Bankers and mortgage companies are waging a financial war against the epidemic of foreclosures. Bankers have slowed down the foreclosure process in efforts to keep their losses in check and paint the face of an improving economy on banks’ balance sheets in an effort to show the real estate market is… Continue reading Banks Wage Financial War
New Record in Foreclosures Set
The foreclosure epidemic reached a new milestone in July setting another record, according to the RealtyTrac monthly report. Foreclosure filings were reported on 360,149 properties nationwide, rising 32% from one year ago. “July marks the third time in the last five months where we’ve seen a new record set for foreclosure activity,” said James J.… Continue reading New Record in Foreclosures Set