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Let Bank Owned Property Listing Grow, Law Professor Says
Let your bank owned property listing grow if you are underwater and the bank refuses to lower your principal and your monthly payments, according to University of Arizona law professor Brent White. The morality of deliberate defaults and the lender-borrower relationship are discussed.
Stockton Foreclosed Homes for Sale: 69 Percent of Home Sales
Stockton foreclosed homes for sale accounted for over 69 percent of all house sales in the city in September. In the third quarter, foreclosure filings in the city rose by 1.6 percent to 8,000 filings from the previous quarter.
City’s Homes Foreclosed for Sale Prevention Program Awarded
A program to prevent homes foreclosed for sale from deterioration by a California city has been recognized for its success. Currently, over 300 cities across the country are also implementing the same program to address the impact of the foreclosure crisis on neighborhoods.
California Foreclosure Listings, Root of the Economic Crisis
Industry experts are blaming the growing California foreclosure listings on the state's economic crisis. They believed that the mortgage meltdown practically stopped the home lending.
House Foreclosure Listings Affecting Florida Home Loans
The price effects of house foreclosure listings in Florida have been prompting lenders to cancel pre-approved home loans despite risks of litigation. Lenders argue that the values of homes, even newly-built homes, have gone down sharply.
Loan Defaults, House Repo Continue to Increase in Washington
The number of loan defaults and house repo continue to post gains in Washington in the second quarter of this year. And this time, a substantial number of foreclosures include prime mortgage loans.
More Foreclosed Home for Sale in Shasta County As Filings Rose in July
The number of foreclosure filings in a California county rose last month. The increase in numbers is expected to fuel foreclosed homes for sale activity in the area.
Cleaning Up Homes in Foreclosure Listings
The foreclosure crisis has been a bane to thousands of homeowners across the country but it provided business opportunities to some. One profession that emerged from this crisis is property preservationists, people who clean up homes on bank foreclosure listings.
Measures to Collect Fees From Foreclosed Condos
Condominium associations have found a way to collect unpaid fees from delinquent landlords and nonpaying owners of foreclosed condos. Also, a Florida appellate court gave condominium associations blanket receivership to collect rents on delinquent owners.
Filings for Foreclosed Home Listing in NY Increased
The number of foreclosed home listing filings in New York rose in the second quarter of this year compared with the previous quarter. But year-to-year figures showed a significant decline.
Senator Reviving Cramdown Idea for Foreclosure Prevention
Senator Richard Durbin plans to revive the cramdown proposal in order to accelerate the federal foreclosure program and help more homeowners. He said the bankruptcy code needs to be revamped to force lenders to modify loans.
Goal to Reduce Foreclosed Homes Listings Could Fall Short
The federal government's goal to provide help to as many as 4 million troubled homeowners and slow down the number of homes ending up in foreclosed homes listings may not be met. This is according to the investigators from the office of Government Accountability.
$16.5 Million Released to Buy, Fix Bank Foreclosed Homes
A Florida county and municipality will apply for the HUD federal fund to buy, fix and sell bank foreclosed homes. The money is part of the national funding for a program to help neighborhoods hardest hit by the foreclosure crisis.
Lenders: Repo Home Prevention Goal Within Reach
Some lending institutions have assured lawmakers that the Obama Administration’s repo home prevention target of helping distressed homeowners refinance is on the right track. Many of these lenders claim that they have already refinanced or modified a considerable number of troubled loans.
Washington to Ask for Funds to Stem Bank Owned Homes Sale
Cities and towns in the Washington region have joined together to ask for federal funds to help stem the tide of bank owned homes sale in the area. The region is applying for the fund under the Neighborhood Stabilization Program.
Senate Examined Bank Owned Foreclosures Prevention Programs
A Senate committee hosted a hearing to examine the progress of the federal government's bank owned foreclosures prevention programs. Senator Chris Dodd expressed his frustration over the lack of progress on efforts to stem the tide of foreclosures in the country.
Community Groups Intensify Efforts to Stem Foreclosures Homes
Community groups in Philadelphia, Pennsylvania are intensifying their efforts to identify struggling homeowners and help them avoid losing their properties to foreclosure. Unemployment and foreclosures homes are major problems affecting both rich and poor communities in the city.
Why Foreclosure Homes Still Abound
The number of foreclosure homes keeps rising despite federal and state efforts to prevent foreclosures. Among the reasons for continued foreclosures are unemployment, lack of available credit and reluctance of lenders to agree to short sales.
Repo Homes For Sale Still on the Rise in South Carolina
The number of repo homes for sale in South Carolina is still flooding the housing market. And one of the areas hardest hit by the foreclosure crisis is Anderson County where 1,600 repossessed homes are listed.
Demand Up in Areas With High Bank Foreclosure Listings
An aggressive buyers' market is seen in areas with high Bank Foreclosure Listings. Potential buyers are vying for REO properties as aggressively as speculators during the peak of the housing market.
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