Archive for the 'States' Category

States

New Law to Help Servicemen Facing North Carolina Foreclosures

Monday, July 26th, 2010

The state legislature has recently approved a bill designed to provide more protection to military personnel who are facing potential North Carolina foreclosures. Governor Bev Perdue must sign the bill first for it to become a law. Insiders at the governor's office have hinted that Perdue is likely to approve the bill.

States

New Law Speeds Up Colorado Foreclosures Proceedings

Wednesday, July 21st, 2010

In an effort to address the problem of mortgage delinquency and foreclosure in the state, legislators have established a new law that will speed up the process of Colorado foreclosures. The law will take effect on August 1, 2010 and lenders who own abandoned collateral can take advantage of this regulation by then.

States

Pennsylvania Foreclosures and Unemployment Impact State Economy

Friday, July 16th, 2010

The problem of Pennsylvania foreclosures, coupled with high unemployment rates, is creating economic stress among the state's residents and businesses. According to the latest Associated Press (AP) report on economic conditions around the U.S., Pennsylvania is among a handful of states that posted increased economic stress during the month of May.

States

Surge in Illinois Foreclosures Could Happen Again

Wednesday, July 14th, 2010

After a substantial slowdown in April, Illinois foreclosures could surge again if the economic problems are not solved. According to a report from the state comptroller for the fiscal year ended June 30, the state has unpaid bills amounting to $4.7 billion and a general revenue balance of negative $4.69 billion.

States

Buyers of New Jersey Foreclosures Got 48 Percent Discount

Tuesday, July 13th, 2010

Buyers of New Jersey foreclosures from lenders for the period January to March got an average sales price discount of 47.78 percent, based on sales figures from a research firm.

States

Huge Sales Price Discount for New York Foreclosures

Monday, July 12th, 2010

A huge 52-percent in average price discount was given to buyers of New York foreclosures for the period January to March, based on a foreclosure sales report issued by a property research firm. These sales referred to sales of bank properties for sale during the quarter.

States

Drop in Nevada Foreclosures and Rise in Sales Raise Hopes

Saturday, July 10th, 2010

The drop in Nevada foreclosures in May and the rise in house sales in June are raising hopes of recovery in the state. The millions in federal financial assistance to Nevada, the improving reviews of the economic situation, and the low tax burden in the state are some of the other positive factors helping Nevada.

States

Buyers of Alabama Foreclosures Saved 15 Percent

Friday, July 9th, 2010

Buyers of Alabama foreclosures in the first three months this year saved 15.2 percent, based on a foreclosure sales report.

States

Nearly 25 Percent Discount for Arizona Foreclosures

Thursday, July 8th, 2010

Buyers of Arizona foreclosures for the first three months of this year got substantial price discounts, as sales of distressed and repossessed homes accounted for more than 50 percent of all homes and condos sold statewide during the quarter.

States

Big Number of South Carolina Foreclosures Account for Q1 Home Sales

Wednesday, July 7th, 2010

More than 20% of residential properties sold in the 2010 first quarter are South Carolina foreclosures. This represents an increase from previous year's figures when 19.8% of houses sold were foreclosed properties. It is also higher when compared with the 2009 fourth quarter which showed that 15.88% of total dwellings sold are foreclosed residential properties.

States

Plan for Michigan Foreclosures First to be Carried Out

Tuesday, July 6th, 2010

The state plan of containing Michigan foreclosures will be the first to be carried out among the five state plans submitted to the Hardest Hit Fund of the U.S. Housing and Urban Development Department and the Treasury Department.

States

Millions in Aid to Curb Surging North Carolina Foreclosures

Thursday, July 1st, 2010

Millions in federal funds are expected to contain North Carolina foreclosures which are still surging. In May, foreclosure filings in North Carolina increased to 4,357, up by almost 12 percent from 3,902 in April.

States

Illinois Foreclosures Reflect Challenges and Opportunities

Wednesday, June 30th, 2010

The still high number of Illinois foreclosures is a reflection of current economic and social challenges faced by the state, but it also presents investment opportunities. The pace of foreclosure slowed and the unemployment rate dropped, but the resulting numbers are still high.

States

Slowdown in Ohio Foreclosures Improving Home Prices

Tuesday, June 29th, 2010

The slowdown in Ohio foreclosures has been improving prices in Ohio. In May, the average sales price for pre-owned homes or new homes in the state rose by 4 percent over the year to $137,310, based on sales data from the Ohio Association of Realtors.

States

Title Deeding – Better for Homeowners Facing Texas Foreclosures

Monday, June 28th, 2010

A lot of homeowners facing Texas foreclosures have been receiving advice from mortgage service providers and lenders to opt for the process called deeds in lieu. A big number of lenders are also reportedly targeting certain borrowers by offering them cash incentives to convince them to forego the long and complicated process of foreclosures or short sales by deeding titles.