Lenders GMAC Mortgage LLC and Deutsche Bank National Trust Co. have been sued to prevent them from enforcing foreclosures on two homes in Massachusetts.
A man who pretended to help homeowners who were about to lose their properties to Philadelphia home auctions had been charged for supposed mortgage-related fraudulent activities.
Investors are showing increased interest on commercial real estate foreclosure. Even non-foreclosure residential commercial properties like apartments are in demand.
Real estate brokers and sellers are complaining that appraisers are giving too much weight to foreclosed homes in their valuation of homes. Appraisers argue that foreclosures are part of the current market.
Processing of bank foreclosures, including Wachovia REO homes for sale, is again put under scrutiny in Pennsylvania. The latest issue is lenders' alleged use of non-lawyers.
Where are the former occupants of foreclosed homes now? According to Douglas Robinson of nonprofit Neighborworks America, many of them have been going to various homeless shelters or living in cars, parks, tents in out-of-the-way areas or on the streets.
Analysts predict that the number of bank foreclosed and government tax foreclosure properties will increase again in Scranton in 2011. They based the prediction on the rise in delinquency rates in 2010.
Home foreclosures in Pittsburgh arising from strategic defaults are not as high in number as in other metro areas. While walk-aways are sharply rising in other areas, signs of walk-aways just started in the last quarter of 2009 in the Pittsburgh area.
Market studies showed that the rising unemployment is a major contributor to the growth of Pittsburgh foreclosure listings. And with the impending end of unemployment benefits in Pennsylvania, more homeowners are expected to lose their properties to foreclosures.
Houses for sale inventories, including Fannie Mae homes for sale, foreclosed dwellings and newly built residences, rose in August 2010, signifying a softening market all over the U.S.
Investors in handyman specials can get inspiration from the people who turned a deteriorating townhome village in Pittsburgh into a successful residential complex. Tryko Partners turned a foreclosed 436-unit townhome project into a desirable rental complex with an occupancy rate of 90 percent.
Pennsylvania's foreclosure cases surged along with the whole nation. With the increase in lay off, loss of businesses and savings, mortgage delinquencies become more rampant fueling more foreclosures.
The U.S. Federal Housing Finance Agency is questioning financial institutions that might have played roles in producing huge numbers of Fannie Mae and Freddie Mac foreclosures.
The rental housing shortage facing Pennsylvania led experts to consider various solutions. Homes in Pittsburgh foreclosure auctions are some of the alternatives being considered.
Home foreclosures in Philadelphia surged in 2009, but home prices held up. The median price in 2009 rose to $215,000 in 2009, a total increase of 12 percent over the five-year period from 2004.
The pace of Philadelphia foreclosures is not as fast as in most other large metro areas because of the relatively high number of public and private groups working together to cut down foreclosures. Mandatory mediation, mortgage payment assistance and legal aid are among the foreclosure prevention efforts.
Although rates of residential and land foreclosures for sale in Pennsylvania are not as bad as in other areas of the U.S., most counties in the state still have high foreclosure activities.
Pittsburgh home foreclosures have been declining substantially, making the city the best housing market in the U.S., according to NAHB housing index analysts. High scores in home affordability, price appreciation and foreclosure slowdown put the city on top of the rankings.
Low income residents in Pennsylvania are getting hit hard by expanding distressed property listings and other foreclosure-related problems, including lack of affordable rental homes.
Buying a house with lis pendens require caution as fraudulent activities related to foreclosure rise. In Philadelphia, city councils are addressing such issues.
Unemployment rates and Pennsylvania foreclosures continue to weigh down the state's economy, making it one of the areas with the highest increase in economic stress for May 2010.
The residential property market problem, which includes foreclosed houses like Freddie Mac foreclosures for sale, has spilled over to the commercial property industry of Pennsylvania.
A Philadelphia law firm was castigated by a bankruptcy court in Pennsylvania for illegal filing of foreclosures. The case could serve as a guide for distressed homeowners who are facing foreclosures.
Mortgage rates are at their lowest in decades, but a huge number of single family and multi families foreclosures remain in the market due to difficulties faced by buyers in acquiring loans.
Pennsylvania is the 5th largest state and offers residents an abundance of entertainment opportunities. Regardless of whether you like sports, history or gambling, the state has a lot to offer. Additionally, there are several well known home builders offering attractive housing opportunities throughout the state.
Distressed short sales and foreclosures are often primary concerns for homeowners. Not so for a Philadelphia resident whose concern is insurance premiums.
Sales of distressed residential properties and mobile foreclosure homes are up in the second quarter of 2010 in most areas of Pennsylvania. However, they account for less in overall sales.
A survey reveals that high unemployment and medical expenses are factors that contributed to the high number of foreclosed houses and mobile homes for sale in Pennsylvania.
Foreclosure investing tips from realtors in Pittsburgh focus mainly on the young residents of the downtown area. Apartments are filled with these young people.
Print This Article
Add To Favorites