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Find a Brooklyn HUD Homes List thru Foreclosure Listings

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By : John Cutts    99 or more times read
Buyers interested in a HUD homes list that focuses on Brooklyn properties can find it in the more reliable online foreclosure listings.

Reliable foreclosure listings offer all types of residential foreclosures, including homes repossessed and offered for sale by the HUD, VA, USDA, Fannie Mae and Freddie Mac.

HUD homes are the ones repossessed by the HUD from homeowners who used FHA-guaranteed loans to buy their homes. As the supervising department for the FHA, the HUD takes back homes from borrowers defaulting on FHA loans.

Foreclosure lists are featuring more properties from Brooklyn as foreclosure activity surged in the first quarter in the borough. The number of Brooklyn bank owned homes increased to 1,546 units during the quarter, comprising 36.58 percent of total first-quarter filings in New York City.

The number of bank owned properties in New York also surged in the first quarter by more than 16 percent, adding more New York housing units to the HUD homes list. Based on figures released by the Furman Real Estate Center at New York University, more than 4,200 residential units entered the foreclosure process in the first quarter.

Statewide, foreclosure activity also increased in the first quarter when compared to the first quarter of 2009, but it slowed down by almost 2 percent when compared to the previous quarter. A total of 12,149 homes were put into foreclosure during the quarter, including 1,526 units already in the REO listings of lenders.

Although New York State was down on the list of foreclosure rate charts in the first quarter, the number of foreclosures in the state was higher than many other states on the list.

For buyers interested in HUD homes in Brooklyn or other areas of New York, they can increase their chances of finding the homes they want by using updated and complete foreclosure listings offered online. These listings typically charge membership fees, but these fees are affordable and are needed to make the HUD homes list and other lists constantly updated and complete.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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