News of Foreclosures, Foreclosure Properties Information and How to Find Distressed Properties for Sale
Several areas in the Big Island of Hawaii are experiencing an increase in the number of foreclosure properties. Kona tops the state in terms of high foreclosure rates in July.
A total of 23 commercial real estate properties owned by J.P. Morgan Chase across the country are being offered for sale to eliminate the weight of holding unused space.
Livonia Mayor Jack Kirksey told members of the city’s council that the program to purchase foreclosure properties and renovate them is designed to preserve home values in the area. He also defended why the city will use the federal funds from the Neighborhood Stabilization Program.
The pace of home price declines across the county increased in the second quarter, as foreclosed houses for sale continued to push down home prices, based on a report from the National Association of Realtors. Home prices declined by a record rate of 15.6 percent from prices in the second quarter last year.
In July, the potential foreclosed homes in Santa Clara County, California rose in numbers despite the sharp drop in figures of actual foreclosures.
The city of Albert Lea has received approval for its plan of acquiring 30 foreclosed homes for sale and rehabilitating them for subsequent sale to qualified first-time home buyers.
A series of federal stimulus funds are being provided to Montgomery County to finance its poverty, unemployment and foreclosed home programs.
An analysis of January to June records at the Clark County Assessor in Nevada showed that banks are selling more single family houses at a pace faster than purchasing them through foreclosure.
Nearly 50 percent of all residential mortgages in the U.S. will be underwater by 2011 as house prices continue to drop, according to Deutsche Bank.
