http://www.foreclosure1.com/blog Find real estate foreclosure news! Fri, 09 May 2008 04:46:00 +0000 http://backend.userland.com/rss092 en 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 ... http://www.foreclosure1.com/blog/foreclosure-crisis/commonly-given-reasons-foreclosure-crisis 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 ... http://www.foreclosure1.com/blog/foreclosure/foreclosures-yet-run-out-steam 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 ... http://www.foreclosure1.com/blog/foreclosure/court-foreclosure-scenario 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 ... http://www.foreclosure1.com/blog/foreclosures/federal-reserves-yet-another-move-tackle-foreclosures 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 ... http://www.foreclosure1.com/blog/foreclosure/st-louis-foreclosures-higher-than-national-average 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 ... http://www.foreclosure1.com/blog/foreclosure/pets-deserted-when-owners-evicted 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 ... http://www.foreclosure1.com/blog/foreclosure/hud-has-word-advice-those-risk-from-foreclosures 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 ... http://www.foreclosure1.com/blog/foreclosure/foreclosures-governor-villaraigosa-nero 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 ... http://www.foreclosure1.com/blog/foreclosure/virtual-foreclosure-bus-tours 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 ... http://www.foreclosure1.com/blog/foreclosure/foreclosure-mitigation-plans-gaining-prominence