Archive for the 'States' Category

The number of bank owned homes foreclosures and evictions in Rhode Island is on the rise. This is the conclusion made on the report "Move Out Rhode Island-An Analysis of 2008 Foreclosure Evictions" released by the Rhode Island Legal Services.

Bank foreclosure homes will get the attention of Monterey County supervisors and six cities in California. County supervisors have approved an agreement with six cities severely affected by the housing market crisis to purchase bank foreclosure homes, rehabilitate and re-sell them to low-income homebuyers.

The increase in the number of pending and completed sales in Florida brought new hope to the housing market in the state despite the fact that majority of closed sales were bank owned foreclosure.

Officials of the city of Danville in Illinois are dealing with problems of tall weeds and grass in Bank Owned Foreclosures Homes. According to Jim Meharry, Danville inspection and enforcement manager, the wet spring did not make mowing very desirable to many people.

Georgia has established a program that aims to reduce the number of bank owned homes sale in the state. The Georgia Dream Purchase Program offers a second mortgage of up to $14,000 to any qualified buyer of foreclosed homes in some counties in the state.

New York courts were able to settle a meager number of Bank Foreclosure Properties cases since last year. According to data released by Senator Jeff Klein and Assemblyman Hakeem Jeffries, 96 percent of almost 2,756 foreclosure court conferences have yet to be settled.

The 36 percent increase in bank owned homes foreclosure filings in Florida in the first quarter of this year compared with figures for the same period last year ranked the state number 4 in terms of foreclosure rate.

A lot of investors can now get back in the housing market with the good news that Fannie Mae has increased their four-financed property limit to ten. The said limit has been lifted last March, from when it was first imposed in September last year. With this, investors can now start buying or refinancing properties including those in bank foreclosure home listings.

The continuous increase in the number of properties in repo home listing in Oregon is pressuring down home prices. The unabated foreclosure in the state may cause anxiety to thousands of homeowners but the resulting drop in home prices may mean bargains for price-conscious homebuyers and investors.

Both apartment vacancies and rents across Colorado, particularly outside the Denver metro area, increased in the first quarter compared to last year's first quarter, according to a study from the Colorado Housing Division. The increase occurred despite a decline in foreclosed homes sale lists compared to last year's first quarter lists.

Families living in manufactured-home parks in Columbus, Ohio are upset they were not notified that the parks they have called their home for many years are in the process of becoming forclosures for sale.

Distressed South Carolinian homeowners have been given another lifeline. Their state Supreme Court has just issued a ruling ordering judges to temporarily suspend foreclosure approvals on mortgages guaranteed by Fannie Mae, Freddie Mac or any of the mortgage lenders that have signed to participate in the government home foreclosures program.

Arizona residents who could not afford to buy homes a year ago now have the chance to buy foreclosure houses from listings following the state's implementation of its new housing programs funded by $121 million from the federal Neighborhood Stabilization Program.

Rural homes, usually immune to the problems of urban and suburban homes, are now following their city counterparts to foreclosure listings.

Neighborhoods in Minnesota battered by repo homes will be rejuvenated by the $10 million funding given by the McKnight Foundation to buy abandoned repo homes, repair them and sell them to responsible low-income families.