Foreclosure1 Blog

The most commonly given reasons for the foreclosure crisis is predatory peddling of sub-prime mortgages (ARMs) to gullible ignorant buyers. Those who contracted the mortgages are not above blame – they falsified their incomes, wrongly took the help of unscrupulous appraisers to raise the value of the houses being mortgaged so as to avail of […]

Despite countless relief measures taken at all levels – local, state and federal, the real estate market continues to go down. RealtyTrac of Irvine, California, said that the Stockton metropolitan region or San Joaquin County, has kept on to its hold as the first ranker in the dubious foreclosure race in the country. The first […]

The court foreclosure scenario is getting more and more interesting as foreclosure numbers pile up. There are the regulars who show up on the first Tuesday of every month in courts in metro Atlanta.
One of them is Trent Gaines who is a closing attorney by profession but on these days he doubles […]

The Federal Reserves took yet another move to tackle foreclosures. The chairperson of the Federal Reserves, Ben Bernanke gave his assent to the lowering of the benchmark federal funds rate to 2%. It was a quarter percentage drop. At the start of the 2008 it was 4.25%. Dallas Fed president Richard Fisher, and Philadelphia Fed […]

Missouri State has a high rate of unemployment – 5.3% in February, making it the 9th lowest in the national ratings. Without jobs and pressed down by rising interest rates the people are unable to cope with mortgage commitments. The net result is the onward march of foreclosures.
The upward trend of foreclosures in St. Louis […]

The increasing number of foreclosures is responsible for creating a new phrase in the animal welfare dictionary- “foreclosure pets”. It is becoming increasingly difficult for humane agencies to find a solution as realtors find pets deserted when owners are evicted.
This pet problem has become more rampant and most of the times, the owners don’t even […]

The foreclosure clouds are getting darker and darker. During the first quarter of 2008 borrowers received 113,676 default notices from lenders. This is just the green signal to foreclosures. It is an abrupt jump by 140% from the previous year during the same period.
RealtyTrac details online that as regards percentage count last month California ranks […]

It may seem too far-fetched to bracket foreclosures, Los Angeles Governor Villaraigosa and Roman Emperor Nero in one bracket but in reality the parallel is not hard to find. Nero played the lyre while he burnt Rome.Villaraigosa presided over housing boom and zoom of downtown Los Angeles that has finally led to the ravages of […]

Foreclosures are sweeping across the country – the worst in the last 16 years. Realtors are not taking the slump in the property market without a show of fight. With the prices of property at an all time low they have hit upon a novel plan – running foreclosure bus tours to lure in potential […]

As foreclosures gallop across the country more foreclosure mitigation plans are in the offing and gaining prominence. On Wednesday 23rd a House panel agreed to the sanctioning of $15 billion as loans and grants for the local governments for purchase of foreclosed houses. The House Financial Services Committee voted 38 for and 26 against this […]