A Boston Federal Reserve Bank top official has urged the federal government to provide funds to local governments and not-for-profits to solve listings of bank foreclosures problems.
Market data showed that November listings of bank foreclosures in North Texas went up by almost 35 percent. And the worsening unemployment problem is being blamed as the major factor pushing up the foreclosure numbers.
The effect of the high number of foreclosed homes for sale in Detroit was made worse by a recent wildfire that burned properties and added to the number of vacant homes in neighborhoods.
New houses held their own against residential foreclosures and tax lien sales in Texas in 2010. Housing starts actually rose in some parts of the state during the year despite high foreclosure levels.
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