Some of the biggest loan services in the country claimed that they have modified or refinanced a considerable number of distressed loans, and thus, helping many homeowners save their properties from the repo home crisis.
Wells Fargo Home Mortgage Servicing executive vice president Mary Coffin said that the Obama Administration’s repo home prevention goal [...]

About 1.53 million REO properties for sale were posted all over the country from January to June 2009.
According to market data, the 1.53 million homes were in some kind of foreclosure proceedings, either notices of defaults , auctions or bank repossessions, in the first six months of the year. The total number of bank [...]

Based on a report on foreclosed homes nationwide in the first 6 months of 2009, the Making Home Affordable Program failed to make a substantial dent on foreclosures across the country.
The continuing rise in the number of jobless homeowners and the worsening effects of the recession also stepped up the pace of foreclosures.
The report [...]

Because of continued pressure on the Obama administration to step up its foreclosed home prevention program, President Obama and other administration officials are considering two options to help more distressed American homeowners, especially those who have lost their jobs.
The administration is considering at least two options – loan forbearance and rental agreement.
Under the loan [...]

Thousands of foreclosed properties across Florida are in limbo right now. Distressed homeowners abandoned them while banks delay their official takeover of the properties.

The CEOs of the nation’s largest banks were urged last week by Treasury Secretary Timothy Geithner and Housing and Urban Development Secretary Shaun Donovan to step up their loan modification efforts under the federal government’s foreclosure help program.

The number of foreclosed new homes in Seattle has risen further after Conner Homes, one of the top homebuilders in Seattle, failed to pay Bank of America its $24.8 million development loan.

One of the main reasons for the slower pace in the sale of higher-priced repossessed houses for sale is the difficulty in obtaining jumbo loans.

Many builders, consumers, lenders and real estate agents are complaining over the new appraisal rules that resulted to lowballed valuations, which means appraising a property way below its selling price.

Four months after the Obama Administration launched its $275 billion program to boost repo homes for sale, the desired outcome is still yet to be seen. Real estate experts believe that improving home sales would greatly help in the country’s economic recovery.