Housing advocates and counselors have been complaining that representatives of IndyMac, now OneWest Bank, are very difficult to work with. When OneWest investors bought the bank, they promised FDIC they will help cut down inventories of foreclosed for sale.
The Treasury Department has released guidelines for the Obama administration’s plan to reduce foreclosure listings, now called Making Home Affordable Program.
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.
Two counties in Illinois saw the number of filings for foreclosed houses jumped in July. The increase in foreclosure filings comes as property sales across Illinois soared to over 61 percent.
A record number of households were threatened by foreclosure in 2009. According to Realtytrac Inc, an estimated 2.8 million households across the nation were in jeopardy of being foreclosed on. These figures show a rise of more than 20 percent from 2008. Realtytrac is expecting another record number of households facing possible foreclosure in 2010.
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