Foreclosures took a frightening jump up in April. A report from RealtyTrac says that the number moved up 32% over April of last year and hit 342,038. Homes defaults and auctions rose 47% over the same period.
RealtyTrac’s theory for the jump is that banks are becoming more aggressive in working through their portfolios of bad mortgages after telling the federal government that they would hold off to help stabalize the market.
Read more »
Virginia and Maryland have more foreclosures, but a new report shows that D.C. had the biggest increase last month.
D.C. foreclosure filings surged to 398 in April — up 42 percent from a year ago.
Virginia defaults increased 5 percent to 6,254 and Maryland foreclosures dropped 39 percent to 3,613 according to the latest survey by Irvine, Calif.-based RealtyTrac, a foreclosure research firm.
Read more »
Mall operator General Growth Properties' bankruptcy is worrisome. But even if commercial real estate weakens further, the market probably won't collapse.
Read more »The harsh winter months are starting to become a memory and some agents are hoping the housing slump is too.
With the tax breaks, lower prices and huge amounts of inventory, buyers in the Nation’s Capital are starting to come out of the wood works even with the rash of foreclosure still fresh in the air. The lower end of the market is doing particularly well, as one might predict.
Read more »What an amazing statistic, 1 in 9 homes across the United States are sitting empty. That my friends is the housing glut, and until those numbers come down, housing prices are going to have a very hard time coming up.
Read more »The report shows a 76 percent increase in loan modifications by Fannie Mae and Freddie Mac from the third to fourth quarters of 2008. There were 23,777 loan modifications during the fourth quarter, compared to 13,488 during the third quarter.
Read more »As part of the Housing and Economic Recovery Act (HERA), passed by Congress in July 2008, $3.92 billion was provided to communities hardest hit by residential foreclosures and mortgage delinquencies. The city of Phoenix received $39,478,000 in Neighborhood Stabilization Program.
Read more »More Americans struggled to pay their mortgage bills in the fourth quarter of 2008. The percentage of loans least 30 days past due rose to a record 7.88%, up from 6.99% in the third quarter and 5.82% a year earlier...
Read more »We know a lot about houses that get sold. We know how much somebody paid to buy them, what the owners were asking for in the first place, how long the properties stayed on the market, what the mortgage notes are worth, what taxes are due and -- if we can believe the listing sheets -- all the great upgrades and fabulous features that these houses contain.
Read more »Renters aren't immune to the heartache of foreclosure. When their landlords default on the mortgage, tenants could be squeezed out of a place to live. But often renters aren't aware of their rights in these situations.
Read more »
Recent comments
26 weeks 5 days ago
27 weeks 5 days ago
34 weeks 5 days ago
34 weeks 6 days ago
38 weeks 1 day ago
38 weeks 5 days ago
49 weeks 4 days ago
49 weeks 4 days ago
51 weeks 3 days ago
1 year 2 weeks ago