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.
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.
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.
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.
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.
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.
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.
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.
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.
We are all aware of the growing foreclosure rates across the US. The New York Times published an incredible graphic illustration of just how big and how all encompassing the foreclosure numbers are across the nation.
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."
More than 13,600 Minnesotans lost their homes to foreclosure in 2007, double that of 2006. Many of these homeowners are leaving their pets behind. Currently 51 of the 150 animals brought to the Rice County Humane Society were because of foreclosure.
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.
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.