October 23rd, 2009 by
jfoxx
You can buy VA foreclosures under the Veterans Affairs vendee financing program, and you need not be a veteran to be able to qualify under this financing program. You can also buy VA foreclosed properties for your own use or as rental investments.
Under the program, you can buy a VA foreclosed home with no down [...]
Continue reading: Buy VA Foreclosures under the VA Vendee Financing Program
October 23rd, 2009 by
jdefoe
Colorado City, Arizona’s 35 communal properties are facing tax lien foreclosures if they failed to settle unpaid taxes and interest within three years with lien purchasers. About 150 houses and land holdings in the polygamous community is in danger of foreclosure due to nonpayment of the 2007 property taxes amounting to $124,000.
The treasurer’s office of [...]
Continue reading: Arizona Communal Properties Facing Tax Lien Foreclosures
October 22nd, 2009 by
Joseph Smith
The city council of Cranston in Rhode Island is considering rules aimed at containing the number of REO homes in the area. Under the rules, lenders are required to renegotiate the loans of distressed borrowers before foreclosures could be initiated.
The strategy is similar to the one initiated in the neighboring city of Providence in [...]
Continue reading: Rhode Island Rules Aimed at Staving Off REO Homes
October 22nd, 2009 by
Joseph Smith
Some industry experts are leading the way in helping distressed homeowners avoid the trouble of foreclosures by creating a short sale or pre foreclosures strategy. The strategy is designed to help distressed homeowners sell their properties, an alternative to foreclosures.
Experts said that in this strategy, homeowners may not be able to save their properties [...]
Continue reading: Pre Foreclosures Strategy to Help Borrowers Avoid Foreclosures
October 21st, 2009 by
Joseph Smith
HUD homes foreclosures are being taken off the market in great numbers. Thanks to first-time homebuyers who flocked to the market to take advantage of the federal tax credit of $8,000 before it finally expires by the end of November.
Industry experts said that almost anyone is eligible to purchase a property owned by the U.S. [...]
Continue reading: First-Time Buyers Find HUD Homes a Good Buy
October 21st, 2009 by
sharon
Industry experts are pointing to the worsening labor market condition and dropping home prices as factors that will likely trigger a flood of FHA foreclosures. They said that these factors are contributing to the growing number of loan defaults and delinquencies.
The increasing number of foreclosures means trouble for the Federal Housing Administration (FHA), an insurance [...]
Continue reading: Job Loss, Price Decline Push Up FHA Foreclosures
October 20th, 2009 by
jparker
The languishing economy and rising unemployment rate are driving the number of government foreclosures to the roofs. As part of an effort to address the growing foreclosure problem, the U.S. Federal Housing Administration (FHA) has tightened its rules on condominium lending.
Continue reading: Stricter Condo Lending Rules to Avert Government Foreclosures
October 20th, 2009 by
jdefoe
There are fewer residential foreclosures in Nashua, New Hampshire from July to September. However, the foreclosure numbers this year were already way pass the figures posted in the entire years of 2007 and 2008.
The drop in the number of foreclosure houses in the third quarter may be taken as a positive sign that the housing [...]
Continue reading: Residential Foreclosures: Quarter Decline, Yearly Increase
October 19th, 2009 by
sharon
Chicago, Illinois developers MCZ/Centrum Florida XIV LLC are facing a condo foreclosures case at the Circuit Court of Manatee County in Florida. The case was filed by Bank of America (BOA) accusing the developers of defaulting the almost $44.8 million in loans they used to purchase the condominium complex, Serenata Sarasota located in the southern [...]
Continue reading: BOA filed $20 Million Condo Foreclosures Case
October 19th, 2009 by
jdefoe
Several organizations in the New York counties of Westchester and Rockland will receive funds to support the federal homes affordable programs. Tens of thousands worth of funds will be distributed to several organizations for their various homeownership and housing services to help alleviate the foreclosure crisis.
Similarly, White Plains city is set to receive over $900,000 [...]
Continue reading: Federal Homes Affordable Programs in NY Gets Funding