There are various reasons that are causing foreclosures to rise in Atlanta. This rise has not even been sporadic, but has occurred consistently since 2001.
The decline in Detroit home auctions for sale in April improved house prices. The price median shot up by 50 percent to $9,000, compared to the April 2009 median of $6,000.
Florida's housing market is awash with cheap houses for sale. But often, nonprofit groups are one step behind cash-rich investors in purchasing foreclosure properties.
President Barack Obama has changed his administration’s housing policy by abandoning the ownership program. Instead, the federal government plans to invest in purchasing foreclosure houses to be renovated and rented at affordable rates.
Investors looking for fixer uppers laden are grabbing cheap properties away from local governments in Florida. This rendered the federal homebuying program useless as local governments could not compete with cash-rich investors when it comes to purchasing foreclosure properties.
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.
The number of Brooklyn bank foreclosures in the second quarter continues to rise. Industry experts are suggesting buying foreclosed properties in the area right away to take advantage of the good deals on the market.
The number of foreclosed homes in New York City rose by almost 15 percent in July. But industry analysts pointed out that the city is still in a better shape compared with other metropolitan areas in the country.
The housing market of Phoenix is still in poor shape, with the number of foreclosures sold at Phoenix home auctions still recording high numbers. However, production is up in the city.
A big portion of house foreclosures for sale in Atlanta arose from flipping and other fraudulent activities by Omni National Bank which closed in 2009. Foreclosures were flipped two to five times at inflated prices.
Big discounts are waiting for prospective buyers of Fannie Mae homes for sale in Massachusetts. Foreclosures in Massachusetts were sold at an average price discount of 33.4 percent in the first quarter.
Arizona has launched new housing programs to be funded by $121 million from the Neighborhood Stabilization Program. The programs help lower-income residents to buy homes from foreclosure listings.
Foreclosure houses in Worcester, Massachusetts are being sold for less than their tax valuations. The difference in values is being driven by the assessment lag and low foreclosure prices in the city.
New Orleans has injected money into a homebuyer subsidy initiative to keep it alive and provide help to buyers of repo homes for sale and other types of residential properties in the city.
Foreclosure-related filings, including those for bank foreclosures and federal tax lien foreclosures, declined in Florida in November. Nationwide filings also dropped, recording the biggest decline in the U.S. since 2005.
More than 150 unsold condominium units are at risk of being placed on Florida foreclosure listings. A foreclosure case has been filed by the lender against the property’s owner in connection with the almost $66.2 million loan taken out for the development project.
Several Fresno hotels might soon end up as REO properties for sale as the owners of the Piccadilly Inn are being sued by the Far East National Bank. The bank has asked for a foreclosure order.
Several areas in New York have posted increased number of notice of lis pendens during the spring of 2010. Data for the period showed that the downstate region of the state is hardest hit.
A judge ordered Wells Fargo to turn over loan data and for company officials to prepare for depositions in connection with a case filed by a Maryland city against the bank. The city alleged that Wells Fargo issued bad loans that contributed to the bank foreclosed home crisis.
Latest reports show that the population of illegal immigrants in Nevada has declined in 2009. Analysts have cited foreclosures, home short sales and the recession as part of the reasons.
The number of foreclosures, including foreclosed houses and foreclosed farm properties for sale, jumped in Kansas City during the month of October despite lenders' moratorium.
The high number of foreclosed multifamily and single family homes for sale in Wisconsin is affecting both homeowners and renters. A forum was recently held to address such problems.
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.
Arizona ranked high among U.S. states in terms of economic stress for the month of June 2010 despite declining numbers of repossessed houses and foreclosure rates. The state ranked fifth.
The restoration of REO homes for sale in Sacramento was audited by HUD auditors recently. One major online real seller has more than 22,400 foreclosed homes for sale in Sacramento.
The number of bank and tax foreclosure homes in Fort Myers-Cape Coral; remains high, making it the second area in the nation with the highest rate of foreclosure from January to June.
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.
Home foreclosures by state rose again in 2010 and legislators have introduced laws to address the problem. Washington is currently considering similar laws.
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