Foreclosure listings are a staple in the industry, most buyers would need to consult them when searching for a property to buy. There are numerous types of listings both on and offline but generally, what you may find in newspapers, country courthouses, real estate brokers or lending institutions are oftentimes compiled in an online foreclosures listings service. Selecting a good online foreclosure listings service can be daunting...more
To those who may not be familiar, banks come to own real estate properties after acquiring them through foreclosures. The properties thus acquired and reflected in bank's books are called REOs (Real Estate Owned). Please understand that banks receive property deeds of homes by way of foreclosure, when no one comes forward in the courthouse to bid the minimum amount of the mortgage.Bank will be in a hurry to sell its inventory of...more
Lenders in Florida are now seeing the positive side of opting out of foreclosures – they can in fact save on dollars by being seeking other alternatives. The foreclosure process generally consumes a lot of time but if the banks cooperate with the borrowers the process picks up speed. A hostile relationship leads to undue delays as the borrowers disregard summons and the lenders cancel sales. However lawyers and condo associations continue to allege that the lenders are intentionally causing delays in foreclosure process to avoid their balance sheets show up heavy losses. They are also trying to avoid paying association fees, maintenance charges and insurance costs. Legislators in Florida have tried time and again to solve the foreclosure crisis but none of their efforts have borne fruit. Charlie Crist the Governor of Florida initiated a task force in February last year. It comprised of elected officials, bankers and real estate investors. The panel gave one recommendation to the state legislature to give protection to those with sub-prime loans. But the legislators did not pay heed to this suggestion. During the last spring session of the legislature the...more
Detroit foreclosures have seen many residential foreclosures. A recent survey shows that there is new phase of foreclosures coming up which includes more of commercial properties than residential ones. Metro Detroit as it is called has never actually seen a metro city boom. It was only recently since 2002 that there were a handful...more
Houston foreclosures have shown balanced progress since the last quarter of year 2009. After seeing soaring numbers of foreclosures in the past few years and considering the amount of devastation Houston has undergone after Hurricane Ike hit and later it falling prey to the economic downturn. The recovery it has shown in the past...more
San Francisco foreclosures rates plunged roughly by 50 percent compared to the rates in September 2009. In November 2009 the total number of houses that were sold amounted to 30-35 percent of the entire houses sale and in December experienced an increase in the sale of San Francisco foreclosures by around 28 percent. The San Francisco bay area, which is the most popular area for buying houses, experienced a fall by 13 to 15 percent. Other San Francisco counties like the San Mateo, Contra Costa and Alameda saw foreclosures of about 9000 properties and among them Contra Costa recorded the maximum number of foreclosures and least were filled by San Mateo. Further shifting our focus from the number of houses sold to the price index that dominated in the last quarter of 2009. It is evident that the prices have started to rise since October 2009. There was a rise in the prices of San Francisco foreclosures by 0.8 percent in November compared to October 2009 and in December 2009 the prices were up by another 1.2 percent. This has brought about price stability in the pricier areas of San Francisco. Also the sale of the foreclosed houses did not plummet below $350,000 mark....more
In the last few months San Diego foreclosures have shown a drop in their numbers. After almost two arduous years of foreclosures, finally there is a sigh of relief. Although San Diego was one of the worst affected counties in the...more
Foreclosure listings are rising since a few years even though the economic downturn has shown signs of improving. More foreclosure houses are available for sale nevertheless good side of it is foreclosure houses are good bargain to buy...more
With the current poor market conditions has come a very drastic hit to the real estate investment industry. It was so easy to get credit and loans in the early part of this decade that people were buying up properties but when people...more
Too many people know too little about the foreclosure market. Most people out there that are selling their 'secrets to success' only use one or two methods for buying foreclosures and tell people that there is no other way to go about it. The reality...more
Every family is currently experiencing concerns related to their financial future. The concern for financial stability is of growing concern as the economy weakens and unemployment rise. A leading concern in the resources being accessed is...more
If you are having trouble keeping up with your mortgage payments, you're not alone. If you are three months or more behind in your mortgage payments, then you are one in an estimated 3 million or more who are currently in one state or another of...more