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Foreclosures News

Wells Fargo, Citigroup sued by LA over foreclosures

The city attorney of Los Angeles sued Wells Fargo and Citigroup on Thursday, alleging that the two companies engaged in mortgage discrimination, which led to foreclosures in minority communities.

Are Short Sale Homes a Declining Trend?

The past year has witnessed a dramatic shift in real estate trends in the wake of rising prices. Are short sale homes the next to fall?

Mortgage fine print forcing widows into foreclosure

As mortgage foreclosures continue to decline, a new foreclosure trap is affecting widows aged over 50 whose deceased husbands were sole holders of the mortgage.

Bank of America tests 'Mortgage to Lease' plan for foreclosures

Bank of America has announced it is in the midst of unrolling a new program called "Mortgage to Lease." This plan is to be offered to selected mortgage customers facing foreclosure.

‘Hardest hit’ states lead way as U.S. home foreclosures increase

Washington - U.S. home foreclosure starts edged up in the third quarter as a result of delinquent loans making their way through the foreclosure pipeline, with industry data suggesting servicers concentrated in “hardest hit” states being the primary driving force.

Bank of America forecloses on home destroyed by Hurricane Ike

Seabrook - A Texas man recently learned the Bank of America tried to foreclose on his home, a home that no longer exists. The home was destroyed in 2008 when Hurricane Ike swept through his area with 110 mph winds leaving behind dozens of destroyed homes.

The death of Cleveland- America’s heartland as a ghost town

As the foreclosure wars drag on, the reality has become a brutal testimony to the financial catastrophes the US is currently enduring. The sheer devastation is nowhere more visible than in Cleveland, once the heart of the heartland.

4 Million US families facing foreclosure

The economic crisis in the United States is hitting home owners hard. More than four million are facing foreclosure. With the high unemployment rate that figure could climb higher in the near future.

Op-Ed: 7 Americans foreclosed every minute and this is a recovery?

The fecal wisdom of the business pundits shines so brightly sometimes. While the rest of the U.S. disappears under a tide of unemployment which trashes millions of lives, anything is evidence of a recovery.

U.S. foreclosures rise 15% in first half of 2009

A recent report indicates the foreclosure crisis affected more than 1.5 million homes in the first six months of the year in the United States.

Foreclosed homes bringing disease to area neighbourhoods

Known as "green pools," the abandoned pools found at foreclosed home sites are being called disease incubators. In warmer areas such as California and Nevada, where foreclosure rates are highest, the problem continues to grow.

Sheriff Dart of Chicago Is Standing Up For Renters Living In Foreclosured Properties

Chicago's homeowners may have a friend in Sheriff Tom Dart. The sheriff announced Wednesday that his deputies will not be evicting anymore people from their foreclosed homes. He's tired of throwing renters out on the street who have done nothing wrong.

Financial Report: Thursday Market Action

After shaking off a worrisome inflation report before the opening bell and a dismal real estate report soon after the opening, volume on the NYSE was 1,003,398,038; advancing shares were 663,931,108 and declining shares were 332,074,290.

US foreclosures up 53%, bank repossessions triple

Gruesome statistics by the bucketload are coming from the US housing sector. 252,000 homes are in foreclosure of some kind. That’s 1 in every 501 homes in the country. An unholy mix of falling property prices and rising payments is causing the carnage.

American Foreclosures Increase by 65 Per cent in April Compared to Year Earlier

A never ending story as people continue to lose their homes across the United States due to the plummeting economy. Compared to April of 2007, foreclosure rates for April of this year have increased by 65 percent.

Mortgage foreclosures swamp banks, homeowners allowed to stay despite defaults

There are so many mortgage defaults on top of foreclosures that banks are being overwhelmed. Two per cent of mortgages have been foreclosed, and 3.6 per cent are in arrears of more than 90 days. Banks are now “starting to look the other way."

City Of Minneapolis Overwhelmed With Boarded And Abandoned Homes

The number of vacant and abandoned homes is rising every day. In Minneapolis that figure has risen from 200 last year to over 800 this year. The City is seeking an increase in fees to help cover the cost involved in inspecting and maintaining these homes.

The Top Ten Cities for Foreclosures

With the housing market so bad all over which cities have the most foreclosures? Because of the amount of homes that were sold in certain areas in the early-to-mid-2000s these markets are really taking a fall.

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