Atom Feed from Searchles Thu Nov 26 04:45:57 EST 2009 en-us Bank Foreclosure Prevention Program by Citi Up by 20 Percent cassy82 The bank foreclosure prevention program of CitiMortgage has been improving significantly. CEO Sanjiv Das also said that the bank has started implementing principal reduction for some deserving borrowers. Animal Shelters in Dallas Overwhelmed by Pets cassy82 Animal shelters in Dallas are being overwhelmed by pets being brought in by families facing financial hardships and foreclosures. They are also struggling from declines in donations, funding and adoptions. Fort Lauderdale Foreclosures for Sale Held Back Home Prices cassy82 The still high number of Fort Lauderdale foreclosures for sale has been hindering the increase of home prices in the area. Home sales increased in the July-September rose, but sales prices dropped. Listings of Repo Homes to Grow as Default Rates Rose cassy82 Listings of repo homes are expected to grow in the coming months because of the continued rise in mortgage defaults. According to LPS, about 12.4 percent of U.S. homeowners with mortgage loans were in default by 30 days in October. Buy Foreclosure Homes in Detroit Where Prices Plunged 80% cassy82 Buy foreclosure homes in Detroit at substantially discounted prices and help the city rise up again. Mortgage lenders and nonprofits are also doing their part in helping the city recover. Abandoned Foreclosure Pets: The Unsuspecting Victims cassy82 The number of abandoned foreclosure pets is increasing daily together with the numbers of foreclosure houses. Some homeowners take time to leave their pets at animal shelters, but some leave them at foreclosed houses, with no food and water. Fort Worth Foreclosures for Sale Rise as Home Defaults Grow cassy82 Fort Worth foreclosures for sale grew in number in the July-September quarter as home loan defaults rose. The pace of foreclosures in the Fort Worth-Dallas area increased by nearly 5 percent from the second quarter. Bank Foreclosure Cases Overwhelm Legal System cassy82 Bank foreclosure cases continued to pile up and clog the legal system in several areas in the country. The crisis also created a shortage in lawyers who can help distressed homeowners save their properties from foreclosures. Bank Foreclosure List Includes Lots of Florida Apartments cassy82 The bank foreclosure list of Sovereign Bank and that of Wachovia Bank contain foreclosed apartment complexes in South Florida. Among these are apartments in Palm Beach, Broward and Miami-Dade. Phoenix Foreclosed Homes Comprised 66 Percent of Market cassy82 Phoenix foreclosed homes accounted for 66 percent of housing market activity in October, according to Jay Butler, real estate professor at the Arizona State University. The median sales price for foreclosed homes increased in October to $153,450. Abandoned Pets Since 2007 Estimated at 1 to 2 Million cassy82 Abandoned pets since December 2007 has been estimated by the ASPCA at one to two million. Animal shelters and rescues have been struggling as donations and funds dry up. Buy Bank Homes in Orange, CA Where Defaults Are Still High cassy82 Buy bank homes in Orange County, California where mortgage delinquencies are still high and where profit prospects are great. Home prices have been rising, but are still below their peak prices in 2006 and 2007. Listing of Foreclosed Homes Record High in McLennan, Texas cassy82 The listing of foreclosed homes rose this year in McLennan County, Texas as unemployment continued to force homeowners into default. A total of 1,387 residential units in McLennan were posted for foreclosure auctions this year. Buying Foreclosure Auction Properties Online: Pros and Cons cassy82 Buying foreclosure auction properties online can save you time and effort, but you need to make your own research about the properties and the auctioning company. You also need to read the auction terms and conditions. Foreclosed Homes Sale by Goldman in Florida Shows Price Fall cassy82 The foreclosed homes sale recently closed just outside Miami by Goldman Sachs and a partnership based in Nova Scotia showed how deeply discounted prices are in the Miami area. A total of 158 foreclosed condo units were sold at only $113,009 per unit. New York Foreclosed Homes Bought with Conforming Loans cassy82 New York foreclosed homes are expected to be sold in greater numbers following the extension until next year the higher conforming home loan limit program. Conforming loans are attractive because they are provided at lower mortgage rates. New York Foreclosures for Sale Slowed by Loan Modifications cassy82 New York foreclosures for sale dropped in October as more troubled homeowners successfully negotiated loan modifications with their lenders. According to the Treasury Department, nearly 28,000 troubled New Yorkers were able to modify their mortgages as of October 31. Miami Foreclosed Homes to Surge in Another Avalanche cassy82 Miami foreclosed homes will soar again in 2011, according to housing analysts in Florida. Various factors will cause the second wave, including unemployment and the resetting of adjustable rate mortgage loans. Foreclosed Listings in Dayton Soared More Than 55 Percent cassy82 Foreclosed listings in the Dayton metro area in Ohio grew by more than 55 percent in October compared to the previous month. A total of 1,070 foreclosure actions were filed in the area in October. Miami Foreclosures for Sale for Multifamily Investors cassy82 Miami foreclosures for sale have been rising in number in the multifamily sector. Condo units at Terra Beachside and at South of Fifth and apartment units at Airport Villas are among these foreclosures.