Archive for the 'cities' Category

Los Angeles bank foreclosures continue to defy local, state and federal government prevention efforts. Recent market data showed that 73 percent of the total homes on the market for sale are foreclosure houses.

Market data showed that the number of Orlando bank foreclosures was among the top 10 highest in the country last month. The Orlando-Kissimmee area earned the number 8 position in the ranking of metropolitan areas across the country with the highest foreclosure rate. This means that one out of 87 homeowners received at least one foreclosure filing last month.

The Community Development Financial Institutions (CDFI) Fund of the U.S. Department of Treasury has awarded $576,000 grant to ShoreBank as part of its effort to prevent bank foreclosures in Chicago.

The Obama Administration's $8,000 federal tax credit has made buying Houston bank foreclosures become easy for some first-time buyers in Texas.

Investors and first-time buyers should buy Brooklyn bank foreclosures right away to take advantage of the wide range of cheap properties on the market, suggested by industry experts.

A Miami bank foreclosures lawsuit has been filed against Fortune International and its president Edgardo Defortuna. The $67 million lawsuit against the Miami, Florida-based residential developer involves a hotel property which Defortuna plans to redevelop.

Dayton, Ohio has approved an agreement with Citywide Development Corporation to launch a program to purchase and rehabilitate vacant and foreclosed for sale homes. Under the agreement, CityWide will find vacant and newly foreclosed properties in stable neighborhoods to purchase, renovate and place on the market for sale.

Some families in Franklin, Virginia could soon be owners of affordable houses if the city's application for a federal grant would be awarded under the Neighborhood Stabilization Program (NSP).

The Federal Reserve and Massachusetts Housing Partnership said that Brockton is the city with the highest number of bank foreclosed homes for sale in the state last month.

The city of Kenosha in Wisconsin is planning to use the almost $1.7 million in federal funds to buy properties on foreclosed home listings. Recently, members of the Kenosha council approved the collaboration between the city and the Wisconsin Department of Commerce for a federal neighborhood stabilization

The number of investors who purchased new and previously owned single-family detached houses in Las Vegas increased in June, based on data gathered by housing analysts.

The overbuilding of high-rise condo buildings in San Diego has substantially increased the number of San Diego condo units entering bank foreclosure list inventories, according to local real estate data.

Job losses or significant declines in earnings, and not subprime mortgage loans, were the main causes of foreclosures in Philadelphia, according to Pennsylvania housing

Total home sales soared in the Las Vegas metro area in June, driven by a large percentage of foreclosure for sale, based on real estate sales data in Nevada.

An increase in the number of foreclosed condos in the Chicago suburb of Buffalo Grove is set to occur after Harris Bank sued to foreclose Buffalo Creek Condominiums, a 154-unit condo complex bought for $13.25 million by investor Marcin Malarz in February last year.