Articles about Foreclosure Homes

Banks have an Interest in seeing to the Maintenance of Foreclosure Homes

Jill Swanson of Environmental Health Services who is engaged in battling foreclosure blight in the townships of West Windsor and Robinsville said that if the owners cannot be contacted the local administration clears up the mess and then places a lien on the property to be realized when it goes up for sale. But [...]

The ‘repo’ Man Visits Foreclosed Houses to Evict These of Occupants

Joseph Laubinger has been nicknamed the ‘repo’ man as he trudges from one foreclosed house to another trying to make the eviction process easy for both the occupants and the financial entity that has engaged him – Fannie Mae.
One of the houses he visited was occupied by a Polish couple Bajrak and [...]

Amidst Foreclosures, Lenders are Failing to Modify Loans Permanently

The American economy is on a tailspin what with unemployment at an all-time high. As people lose jobs, even those with sound credit rating, are faltering on mortgage payments. Hence, foreclosures have become common. The Federal government has come up with Making Homes Affordable program. As part of this program, the [...]

People Being Rushed to buy Foreclosed Homes

People are being literally rushed to buy foreclosed homes with various incentives like tax credit being offered. Experts are questioning the sagacity of such a policy even though it may be politically rewarding.
Ted Gayer of Brookings Institute is one of the critics of the tax credit policy. Figures show that a [...]

Stale turkey in Foreclosed Home does not Deter Buyers

Usually the smell of turkey roast would help to sell off a house; but if the turkey has been sitting in the bake for over a month, the stink might put off the buyer. But even though Preston Wright was a vegetarian he would not be deterred from the purchase of this [...]

The Value of a Foreclosed Home Depends on the Bank

The US is yet to recover from the economic crisis. People are faltering on loans after job loss – a phenomenon that has made foreclosures very common. Certain regions are riddled with foreclosures. Now the question that arises is what could be the value of a house in a region that [...]

As lenders Foreclose the Credit Scores of Borrowers Get Battered

As lenders quicken their foreclosure activities the credit scores of borrowers are getting battered. Even after the economy recovers for a long time afterwards millions will be pulling along a grim legacy of the worst recession since decades. The credit scores will be damaged. This in turn will make it next to impossible for [...]

Option ARM Loans Will Soon Flood the Country with Foreclosures

Repeated warnings are being given of Option ARM loans poised to flood the country with a new wave of foreclosures. The monthly payments are ready to jump.
But those in New York City will not be acutely affected. During the time of the housing boom these loans were the last word as regards “affordability”. The borrowers [...]

Newer Subdivisions Mauled By Foreclosures

Newer subdivisions are now being mauled by foreclosures. Hamilton County had not suffered from unemployment that has rocked the rest of Indiana but the number of foreclosures in the wealthiest county has sharply spiked from 971 in 2007 to about 1,400 listings this year.
In October there were 200 foreclosure listings in Hamilton [...]

Legal Aid Bodies Overwhelmed By Foreclosure Issues

The spike in foreclosure numbers has led to legal aid bodies being overwhelmed by foreclosure issues.
In the instance of criminal cases everyone is entitled to a lawyer but in civil suits like that pertaining to foreclosure this is not the case. Here the accused does not have the right to have an attorney. Legal aid [...]