Short sales are growing fast, according to banking officers and real estate agents. As homes lose their values, mortgage lenders want to cut losses associated with foreclosure notices and foreclosure listings.
The number of foreclosure homes for sale is rising in Alamance County, North Carolina as few defaulting homeowners attend foreclosure hearings. Underwater mortgages have discouraged some homeowners from pursuing loan modifications.
Owners of pre foreclosure homes in North Carolina are getting help from a local credit union. SECU launched a program designed to keep troubled families in their homes.
A retail property might soon be part of Charlotte foreclosure auctions. Owners of the EpiCentre retail and entertainment property have filed for Chapter 11 bankruptcy protection.
Scammers and cons victimizing homeowners threatened by foreclosure listings are rarely imprisoned because judges usually file only civil actions against them. Many states also have not criminalized foreclosure fraud.
The number of Charlotte bank owned homes has been soaring because of the worsening employment situation in the area. The unemployment rate in Charlotte hit 12.8 percent in January, the highest rate reached in decades.
Before huge supplies of foreclosed properties in Sheriff home sales became a problem in North Carolina, fraudulent activities involving land deals were the main issues in the state.
Multi family foreclosures and other residential foreclosures rose in Durham last year. However, its foreclosure rate remained low compared with other markets.
North Carolina, already suffering from high numbers of foreclosed and pre foreclosure houses, is also being battered by rising unemployment rates and surging poverty rate.
Commercial foreclosure property owners and homeowners are facing potential increase in insurance rates. North Carolina proposed a hike of over 20% on policies.
Chapel Hill has long been a cornerstone of the Research Triangle in North Carolina and home to the University of North Carolina at Chapel Hill. In 2010, Chapel Hill was bestowed the honor of gracing CNN Money's top 100 places to live in America at number 40...
Several apartment construction projects are ongoing in some areas of North Carolina. These developments are expected to compete with newly built, foreclosed and HUD houses for sale.
RBC Bank reported a loss of over $110 million in the second quarter largely because of its bank foreclosure list. Its lending unit RBC Builder Finance made huge residential loans to home builders and developers in the foreclosure-hit states of California, Florida and Georgia.
A bill has been approved by the legislature which could help protect the properties of military personnel who are behind their mortgage payments and facing North Carolina foreclosures.
Some areas of North Carolina are dealing with foreclosure case backlogs involving single family properties, multi family homes and other types of residential and commercial properties.
The attorney general of North Carolina, Roy Cooper, has launched an investigation on the procedures for bank owned foreclosed homes used by several mortgage lenders in the state.
Buyers of bank owned properties in North Carolina in the first quarter this year enjoyed more than 28 percent in average price discount. Foreclosure homes were sold at an average price of $143,607 during the quarter.
The number of foreclosure-related Lis Pendens filings in North Carolina reached record levels in 2010. The three biggest counties in the state also posted the highest filings totals for the year.
The number of Raleigh bank owned homes for sale increased in June, along with other metropolitan regions in North Carolina, such as Durham-Chapel Hill. Loan delinquency rates also rose.
North Carolina has fully implemented distribution of its anti-foreclosure assistance program. The effort aims to shoulder mortgage payments while eligible and troubled homeowners are finding employment.
Prices of residences and properties under commercial home lists have declined for the month of July in Charlotte. The decline follows several months of steady rise in residential prices.
Even with the U.S. government foreclosure tax credit, demand for houses in some areas of North Carolina declined. Asheville is an example where sales and prices are low.
The problem of Charlotte foreclosures is possibly moving to the commercial real estate market of the city. According to a study, around 35% of commercial loans in the area are stressed.
The number of Charlotte foreclosed manufactured homes could increase in the near future. This is if underwater homeowners decide to walk away from their homes.
In Mecklenburg County, distressed houses for sale accounted for more than 50 percent of the total home sales. This just shows the growing foreclosure epidemic.
As North Carolina foreclosures vary distinctly from other real estate deals home buyers may feel a bit intimidated while looking for suitable options. The good news is that these properties are a safe as well as profitable investment option as they are mostly owned by the government and banks and gave a very transparent buying process. North Carolina foreclosures are being sold in the market through various lending agencies which include the HUD, VA, FHA, as well as various banks and real estate agents.
North Carolina residents whose properties are under pre foreclosure lists or are facing foreclosures got some reprieve when they received mail saying that they will be getting some money.
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