Even with a sudden decline in foreclosures in November 2008, experts still believe there is an even greater flood that can be expected from the housing crisis.
Police officers in Georgia are being encouraged to find foreclosed houses to buy. This initiative aims to prevent crime by placing officers in areas severely affected by the foreclosure crisis.
Buyers of Brockton bank owned properties can apply for a rehabilitation loan under the Brockton Housing Partnership program. Nearly 1,300 homes in Massachusetts were repossessed by banks in May.
There are still plenty of Fort Lauderdale bank owned homes for sale despite the slowdown in foreclosure filings in May. Total filings from January to the middle of June reached nearly 18,000 in Broward County, where Fort Lauderdale is located.
Several counties in Tennessee posted high foreclosure listings last month. Along with the increase foreclosure activity in the state was the drop in home prices and values.
With the number of foreclosed dwellings and Mesa repo homes for sale remaining high, residents were warned about an additional threat, that of being fooled by so-called rescue companies.
The US housing crisis is reflected in Michigan in some ways. As the statewide unemployment rate improved, Michigan also improved sharply its rate from 14.9 percent in March to 13.6 percent in May.
California foreclosures still accounted for a big percentage of total home sales in May. Nearly 36 percent of total home sales in California or 14,543 units were foreclosures.
The still high number of single-family and multi family foreclosures in North Las Vegas has contributed substantially to the negative outlook of Fitch Ratings for the city. Fitch downgraded the city's $339-million GO bonds from AA to AA-.
Rising unemployment rates have been cited as one of the key reasons for the continued rise in foreclosure rates in February. It is believed that jobless rates have also largely caused the rising number of tax foreclosure properties.
The rate of San Antonio bank foreclosures is turning out to be manageable which propelled the city to top Brookings Institutions' economic performance study of 100 metropolitan areas across the country. Other economic indicators considered are employment, wages, unemployment rate, housing prices and gross metropolitan product.
The states of Indiana and North Carolina saw their foreclosed filings jumped last month. The spikes indicated that foreclosures are being worsened by the rising unemployment rate.
Foreclosed property listing grew in the Seattle metro area in September, compared to August. The rate of increase in foreclosure filings in Seattle surpassed the nationwide rate in September.
The number of Georgia foreclosure homes rose by almost 40 percent last month. And with the rise of foreclosure numbers, home values are expected to drop further.
The number of Tampa bank owned properties jumped up to 886 units in May this year from 662 units in May last year. Filings, meanwhile, fell by 8 percent to 6,292 postings.
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