According to RealtyTrac’s Midyear 2010 U.S. Foreclosure Market Report a total of 1,961,894 foreclosure filings – default notices, auction sale notices and bank repossessions – were reported on 1,654,634 properties in the first half of 2010. These numbers show a decrease of 5% in total properties from the second half of 2009 but an 8% [...]
RealtyTrac® recently published data shows that foreclosure homes accounted for 31 percent of all residential sales in the first quarter of 2010, and that the average sales price of properties that sold while in some stage of foreclosure was nearly 27 percent below the average sales price of properties not in the foreclosure process. Read full article
California is one of the hardest hit by foreclosures. In fact, the state is home six of the top ten riskiest cities for homeowners. The Treasury Department introduced the Home Affordable Modification Program (HAMP) in February 2009, and issued the implementing guidelines in the following month. The program was envisioned to save around 4 million [...]
According to MDA DataQuick, a San Diego-based real estate research firm, California homeowners receiving NODs (notices of default) hit its lowest level in three years during the second quarter of 2010. NODs are filed by lenders and they are the first step in the foreclosure process in California. DataQuick counted a total of 70,051 notices [...]
Edmund G. Brown Jr., California Attorney General, started an investigation aimed at protecting the rights of the "forgotten victims" of the real estate market collapse. These are the thousands of tenants facing eviction from foreclosed buildings. According to Brown, "tenants who live in properties in foreclosure are the forgotten victims of the collapse of the [...]
On July 24th Bank of America is going to auction around 100 bank-owned homes in and surroundings of Coachella valley and Inland region. This is a best opportunity for all the homebuyers of today to avail. These homes are ready to occupy and preference will be given to the buyers that are interested in living [...]
Today the whole world is buzzing about the present day lowest mortgage rates. Experts are indicating that the present mortgage rate is almost equal to the mortgage rates of 1950s. Unemployment crisis and unstable economy of the country is the main reason for this. A 30-year fixed loan’s average rate is drastically fallen to 4.69% [...]
A recent crime wave in the Coachella Valley has resulted in many foreclosed properties losing much more than just their former occupants. Police have stated that many criminals have started specifically targeting properties that have fallen into foreclosure. Once they gain entry, they steal household appliances. Fridges, stoves and portable air conditioners are popular targets. [...]
