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Foreclosure Crisis

Atlanta Foreclosed Homes for Sale Drop, But Still High

by Anthony ParkerOctober 16, 2009

Atlanta foreclosed homes for sale dropped in number in October compared to the previous month, but the number is much higher compared to October last year, based on data from a real estate research firm based in Georgia.
Throughout the Atlanta metro area, nearly 9,600 foreclosure notices were posted, a decrease of 22 percent compared to [...]

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Financial Incentives to Stem the Surge of Foreclosed Houses

by Danny GibsonOctober 15, 2009

The unabated spread of foreclosed houses across the country is putting so much pressure on the Obama Administration that it eventually gave in by announcing financial incentives to both troubled borrowers and real estate lenders.
Industry experts have been calling on the Obama Administration to do something immediately to curb the tide of foreclosure properties across [...]

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Bronx Foreclosed Homes for Sale Driven by Unemployment

by Mark GoodmanOctober 14, 2009

Bronx foreclosed homes for sale still dot many neighborhoods in the area because of unemployment, income reduction, collapse of small businesses and the failure of federal and state foreclosure prevention programs.
The foreclosure of several apartment and condo buildings has also been adding to foreclosure statistics in the area.
Because of the downturn, the unemployment rate [...]

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Los Angeles Foreclosed Homes for Sale Driven by Jobless Rate

by Anthony ParkerOctober 13, 2009

The number of Los Angeles foreclosed homes for sale is still rising, as shown in a foreclosure report that indicated more than 106,000 foreclosure postings in the first 6 months of this year in the Los Angeles, Long Beach and Santa Ana metro area.
Just like other cities battered by high unemployment rates, Los Angeles is [...]

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Tampa Foreclosure Homes for Sale at Falling Prices

by Robert ShultzOctober 8, 2009

The prices of Tampa foreclosure homes for sale are falling at rates depending on the age of the house, the type of neighborhood and the stability of nearby communities, according to a study conducted by David Teacher, a real estate appraiser working with Superior Residential Appraisal Services Inc.
Teacher said that most of the residential properties [...]

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Pittsburgh Foreclosure Homes for Sale Declining, Buy Now

by Robert ShultzOctober 7, 2009

The number of Pittsburgh foreclosure homes for sale is dropping, so prospective buyers of lower-priced properties in the metro area should buy now.
According to real estate research firm RealSTATS, the number of available foreclosures for sale in the Pittsburgh metro area has gone down by 5 percent in August to only 323 units.
A separate [...]

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Fort Worth Foreclosure Homes for Sale Still Rising

by Mark GoodmanOctober 5, 2009

The number of Fort Worth foreclosure homes for sale is still rising largely because of delayed foreclosure postings. According to an Addison-based real estate research company, the increase in foreclosure postings in September included a lot of properties that should have been included in foreclosure listings in previous months.
Researchers said that the filing of loan [...]

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Historic Hotel on Foreclosure Auctions

by Danny GibsonOctober 5, 2009

The historic 92-bedroom Hotel Jerome in Aspen, Colorado is facing foreclosure auctions on January 27, 2010. According to court records, the circa-1889 hotel was foreclosed because the owner, LCP-Elysian Aspen Owner LLC has defaulted on its mortgage balance amounting to $36.3 million.
The foreclosure process for the hotel was opened by the Pitkin County Treasurer’s Office [...]

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Militant Tactics to Prevent Boston Foreclosure Homes for Sale

by Danny GibsonOctober 5, 2009

The City Life/Vida Urbana, an organization of housing activists, has taken on militant strategies to prevent the spread of Boston foreclosure homes for sale. Members of the group have chained themselves to foreclosed properties in an effort to force banks to do their share in preventing the foreclosure crisis.
A recent move by members of the [...]

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9,000 Home Sites Under Foreclosure Procedures in Florida

by Anthony ParkerOctober 2, 2009

Developer John Ryan’s home sites in Tampa, Florida are under various stages of foreclosure procedures. In 2007, Ryan’s company Metro Development Group purchased parcels of land across Florida, with majority of them located in the area of Tampa Bay.
The acquisitions were done while Florida’s real estate market was starting to fall into pieces. In December [...]

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