Archive for the 'States' Category

Arizona foreclosures are expected to be contained further with the allocation of $125 million to help financially troubled homeowners in the state.

Michigan foreclosures surged in May even though the statewide employment situation improved.

As Florida foreclosures surged in May after slowing down in April, state officials continue to find ways to address the causes and effects of defaults and repossession.

California foreclosures still accounted for a big percentage of total home sales in May, based on sales report from a real estate firm.

A program related investment worth $500,000 was provided to the Texas State Affordable Housing Corporation (TSAHC) by the Meadows Foundation. TSAHC is currently in collaboration with several nonprofit home providers to acquire vacant properties and homes that are under Texas foreclosure listings.

Florida foreclosure listings are still surging dramatically. In May, bank owned listings spiked by 81 percent over the year to a total of 10,941 repossessed homes. The REO number also marked an increase of 18 percent from April and a sharp jump of 27 percent from March.

The pace of Illinois foreclosures surged in April, posting the highest rate of increase among the ten most foreclosure-hit states. Illinois even moved up two places from tenth-place in March to eighth in April.

The success of Chevy Volt could usher in jobs that would help stem further Michigan foreclosures. Over the past ten years, Michigan has lost about 78 percent of jobs in the auto manufacturing industry and over the past couple of years, the state has been posting among the highest foreclosure rates in the country.

A significant decline in the number of state homeowners who are delayed in paying their mortgages was recorded for the first quarter of 2010, leading market analysts to believe that the issue of Texas foreclosures is on its way to getting resolved.

Total sales of California foreclosures accounted for 38 percent of total home resales in April, based on data from a market research firm. These homes were foreclosed upon during the 12-month period ended April.

The total value of Florida foreclosures repossessed by banks in the state increased by nearly 8 percent in the first quarter to $1.77 billion, based on figures from the Federal Deposit Insurance Corporation.

Bank owned foreclosures for sale accounted for more than 19 percent of total foreclosure filings in Florida in April, a sharp increase from 14.63 percent in March.

Michigan foreclosures bucked the national trend of declining foreclosure activity in April, as they marked a jump of 8.3 percent from March and a stark contrast to the nationwide decline of 9.05 percent.

The number of foreclosed homes for sale in Illinois in the first quarter was still relatively high despite the slowdown in foreclosure activity in March and during the quarter.

The number of foreclosed homes in Michigan is still surging and the unemployment rate is still climbing up, but at least one factor - personal income taxation - is not rising for residents of the state.