California Congresswoman Waters accompanied HUD Secretary Shaun Donovan in visiting some foreclosed homes in Los Angeles. Waters fought for funding for the Neighborhood Stabilization Program in 2008 and 2009.
The record pace of Dallas foreclosures put the metro area on top of the foreclosure rate chart in Texas in the first quarter. A total of 13,637 foreclosure filings were posted in the area, equivalent to one filing for every 176 homes.
Home foreclosures in Phoenix slowed in February, but defaults surged. Completed foreclosures dropped to 4,271 in February from 4,452 in January while defaults rose from 6,762 in January to 7,604 in February.
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