With Massachusetts foreclosures on the rise, local government, in some metrowest communities in the state, has been finding it difficult to deal with vacant homes which soon become safety hazards and eyesores.
Michigan foreclosure homes for sale continue to rise in number because of the high unemployment rate statewide. In the third quarter, more than 37,000 households throughout Michigan were hit with foreclosure postings.
It seems that mortgage holders and lenders need someone to clean up after them. Business is booming for a 28-year old company which quickly responds to provide a cleaning service for Michigan foreclosures.
Foreclosures are becoming rampant these days and it seems like no matter how many programs are doing their best to prevent it, more homes are still entering some stage of foreclosure.
Florida foreclosures in 2008 put the state second to California in a ranking of the ten U.S. states with the highest foreclosure rates, as surveyed by California tracking firm RealtyTrac.
Foreclosure lists will soar again next year, according to chief Economy.com economist Mark Zandi. Unemployment and underwater mortgages are the two main reasons for continued foreclosures.
Judge John Carlin and other judges in Lee County, Florida have been holding rocket docket hearings to clear the court of thousands of foreclosure cases.
New York City was not as hard-hit by foreclosures and low home prices as other cities in 2008. But as 2009 begins, signs of declining home prices are starting to appear.
RealtyTrac reports that the state of Illinois has recorded a 31 percent rise in the rates of their foreclosures this October. The California-based firm also said that the national rates are up as well.
The data on foreclosures in New York provided by RealtyTrac has faced many criticisms for being inaccurate, primarily considering the case of Erie County.
Miami foreclosed homes for sale grew again in the July to September quarter. Foreclosure filings rose to nearly 4,400 due largely to the high unemployment rate in the area.
Freddie Mac has suspended government foreclosures for mortgage loans qualified for any of the housing schemes offered under Obama’s program, the HOPE NOW program and other federal loan modification programs.
The still high number of Las Vegas foreclosed homes for sale has attracted the attention of nonprofit NACA. This advocacy group has been holding foreclosure prevention sessions throughout the U.S.
Majority of bank and government foreclosures notices were received by young families, first-time homebuyers and middle-aged couples in 2008, causing the housing market to become even more unstable.
Despite foreclosure prevention efforts by the federal government, the number of houses being added to foreclosure listings in Texas is still rising, based on a survey by Texas company Foreclosure Listing Service.
Texan homeowners whose houses are in danger of becoming foreclosure properties are given 25 more days to work out a reduced payment scheme with their lenders before their properties are foreclosed.
Foreclosures in Saint Petersburg, including possible mortgage fraud cases, have contributed to the high ranking of Florida in lists of foreclosures by state.
Illinois homeowners worried about their houses becoming foreclosed homes can take some relief from their governor’s efforts. Governor Quinn has just signed a law amending the state’s home foreclosure law, extending the grace period for defaulting borrowers to seek counseling and find remedies to make their loans current.
Loan modification initiatives aimed at averting foreclosures have been failing, according to the National Association of Consumer Bankruptcy Attorneys.
Last month, the housing market pace slowed down in Las Vegas, Nevada. However, industry experts said that demand for Las Vegas foreclosure homes remains strong with sales 27 percent higher compared with August the previous year.
An increasing number of homeowners in Florida are facing foreclosed homes list as they default on their mortgage payments. In August, 62,401 foreclosure cases were reported in Florida.
A Wisconsin city is offering forgivable loans to buyers of cheap homes for sale. This is a way for the city to alleviate the impact of the foreclosure crisis on neighborhoods.
The 67-percent increase in February foreclosures dashed hopes perked up in January when foreclosures declined from December levels. It is believed that tax foreclosures also increased because of continued job losses across the country.
Sales of foreclosed homes remain high in Arizona, but there are signs of improvement. In the state's Pima County, the number of foreclosure filings fell in November.
Some areas in Hawaii are seeing a rampant growth in the number of foreclosure properties. And in these areas, the unemployment rate is also on the rise.
The crisis in the residential real estate market in Arizona has spilled over to its commercial real estate market. Data showed that more commercial properties are facing bank foreclosure list and the numbers are expected to continue rising in the coming months.
Bank homes for sale dragged down house prices in Rhode Island in October, based on a report from research company Warren Group. The median for single-family houses dropped to $203,500 and the median for condo units dropped to $161,750.
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