Block 37 hit with foreclosure suit
2009-10-20 17:45:00 A group of lenders led by Bank of America has filed a foreclosure lawsuit against Block 37, the mixed-use project under construction in the heart of the Loop, a spokeswoman for developer Joseph Freed & Associates LLC confirms. In a statement, Freed blasted the lawsuit, calling the complaint "a serious breach of trust with the people of the city of Chicago" and said it would "fight it vigorously." A copy of the complaint could not immediately be obtained, and a spokeswoman for the bank could not immediately be reached for comment....
Apartments, Metra and pre-foreclosure plans in the news this week
2009-10-09 22:24:00 Here's a round-up of this week's residential real estate news in Chicago: 1. Apartment vacancies are on the rise: Northwestern's Medill School of Journalism reported that more for-sale properties going on the market as rentals is pushing rents downward and increasing vacancy this quarter- meaning it should now be easier to find an apartment 2. Homes near the Metra are selling better than others: According to the Chicago Sun-Times, you can count on a home near a Metra station selling for 2-4%- not surprising,since you won't have to spend that money on parking at the Metra station. 3. Nearly 10,000 new foreclosures were filed in the first half of 2009 on the Southwest side: The Southwest News-Herald says vacant homes are staying vacant longer, further bringing down property values. 4. Freddie...
Foreclosure Home
2009-09-28 19:25:00 When it comes to buying a foreclosure home it is important to understand the pros and cons of this type of real estate transaction. While you might be lucky enough to find a foreclosed house in perfect condition, chances are high you will need to engage in physical labor to get the property back in good condition. Before beginning your quest for the perfect foreclosure home, it is a good idea to apply for pre-qualified home mortgage financing. Doing so ensures you are qualified to buy the property and provides extra bargaining leverage when it comes time to make an offer.
Foreclosure Crisis is Causing a Change of Attitude Towards Dreams and Inter
2009-09-22 14:59:00 The foreclosure crisis is causing a change of attitude towards dreams and its interpretations. Decades old indifference to dreams, that has always been given great importance in all ancient cultures, is being discarded. Serious attempts are being made to rent the veil of ignorance behind dreams. There are more cases of people suffering from nightmares ...
Foreclosure Recap ? Week #37
2009-09-18 18:52:00 It has gotten to the point now where we are starting to see the foreclosures actually coming in on the normal homeowners rather than just the ones that have a long history of issues, which made up the foreclosure numbers for a long time. The first people hit were the ones that ...
Foreclosures in the Valley Have Plunged to a Record Low
2009-09-18 15:31:00 The US economy is in the grip of a deep Recession. Joblessness is rampant and subsequently people are unable to make mortgage payments. Hence, foreclosures have become common in various regions of the US. However, the scenario is different in a region called the Valley, where foreclosures have dropped. Foreclosures plunged to 3,939 in August, ...
A Possible Surge Noticed In the Foreclosure Trends
2009-09-17 15:44:00 The National Association of Realtors observed that sales of homes all over the western zone featured a major increase of approx 4% in the month of July as more purchasers tore up the foreclosure scenario and mainly the buyers buying homes for the first time also intended to take utmost advantage as this indicated a tax credit on a temporary basis. This mainly resulted to the pulling down of the average prices of the homes in West by approx 28% that is almost $202,300. Patrick Newport, who is an economist working with IHS Global Insight, regarding the declining sales commented that, “In the West, it’s still the economy that’s determining sales.” Unfortunately, in the western region the condition of employment drew a sorry picture as the rate of unemployment was 10.5 in July and this was considered as the highest rate in any of the regions according to the Labor Department. Newport further emphasized that, “Since the economy is still getting worse, that&r...
The Foreclosure Related Crisis has Made More Elderly Americans Enter the Po
2009-09-17 15:19:00 The usual level of poverty among the elderly has been 10%. But currently the foreclosure related crisis has led to the numbers being doubled. More elderly Americans are entering the poverty zone. This is as per revision of a 50 year old yardstick for measuring medical expenses and area variations regarding the cost of living. More ...
Made it to Friday: Links in the time of foreclosure
2009-09-11 22:58:00 Hi Littof readers!We made it to Friday. It's been a full week now since "Love in the Time of Foreclosure" has been on ChicagoNow. I hope the change is good for everyone. One thing a reader suggested I share is that you can still add LITTOF to your blogroll. Also-- see that bar on the right... you can receive the "Love in the Time of Foreclosure" RSS. Get Littof in your reader.Have you registered for ChicagoNow yet to be able to leave comments? It doesn't take that long. I hope you'll do it and continue to join in the conversation. By the way, my e-mail is the same: loveinthetimeofforeclosure@gmai-l.comSend me your thoughts and questions. Next week I will be working...
Reverse Mortgage To Foreclosure In Less Than Three Years
2009-09-11 17:34:00 Anyone who’s ever watched any late night television has seen those commercials for reverse mortgage. They are always touted by older celebrities claiming how safe these things are. For those who actually believe that there’s little risk to a reverse mortgage, here’s a cautionary tale from our faithful longtime correspondent in Tucson- M.R.: Recently I passed a vacant house with a NOTS posted on the front fence. I know the owner of this property — she’s an elderly lady who took out a reverse mortgage in 2006. The NOTS gave the amount, $285,500. Twist, in no way, even during the height of the bubble, was that place ever worth that much. Very few places in zip code 85705 are. Furthermore, the lady was known for feeding every stray cat in the area, and for allowing them into her house. You can just imagine what the place smelled like. After she got the reverse mortgage, she went on a truly baffling spending spree. We’re talking things lik...
By: HousingDoom
Collin County Foreclosure Facts
2009-09-10 22:05:00 Collin County Foreclosure Facts A client called yesterday and wanted some foreclosure info to help fight property tax increases, the criteria went something like this: can you do a search for all sold foreclosures in Collin County this year by Fannie Mae? The answer is yes, I can do by seller type: as in foreclosure but to break it down by owner type is difficult because this is not an input field that every listing agent fills in. So we broke it down to all foreclosures sold in Collin County since 2009 and all prices. Can you guess the number? Don't think you'll be surprised.... 1172 units have sold in Collin County. When I ran the report today 10 more had closed. Yes, friends that world is fast and furious. 68% of these properties are under $200K. But there are some upper end gems out there. Over $500K represents 2.2% of the sold inventory. Just to give you another idea of the break neck activity, there are only 201 active foreclos...
By: Plano Blog
Foreclosure Crisis Aggravated Due to Missing Fixtures of Houses
2009-09-10 16:32:00 The region of Avondale experienced a home sale at $165,000 while the original price of the house was $416,000. The reason behind such a drastic fall in the prices is the aspect of fixture theft in the various regions as the thieves are making a profit out of it. John Lincoln, the real-estate agent selling such houses to the buyers commented that, “These are fixtures that are supposed to be part of the house. They basically took $30,000 out of the kitchen and left.” The special agent, Julie Halferty working on the Phoenix FBI Mortgage Fraud Task Force observed that no one can be blamed for these missing fixtures as it is very hard to signify if these fixtures have been stolen by the family members who left the house of by the neighbours. Kim Baker, the Tempe real-estate agent assumes that, “Without question, probably 85 to 90 percent of houses on the market under $200,000 have been stripped. “Appliances are the most commonly poached item, but plumbing fixtures...
Is Your Landlord In Foreclosure?
2009-09-08 08:13:00 As the number of foreclosures across the nation continues to set records, there is a sub-set of society that is being impacted that most people don’t first think of when they think of foreclosures… Renters. It is becoming more common for someone to have signed a rental agreement with a landlord who at some point during said agreement becomes delinquent and allows the property to go into foreclosure. What kinds of rights do you have if you are a renter in this situation? According to Valley Real Estate Attorney Christopher Combs, here is what is possible should your landlord go into foreclosure and you still have a period of time left on your lease: Under a new federal law that took effect May 20, the bank generally would have to honor the lease of bona-fide tenants. One of the exceptions to the new law is that if the bank sells the home to a buyer who will use the home as a primary residence, the bank can then furnish a 90-day notice of eviction to the tenants. In rega...
Steadiness Observed in Foreclosure Trends
2009-09-03 19:04:00 While many expect to see the spiking and the decreasing of foreclosures, however this would indicate a certain stability of the property market scenario. Jon Ford, the Albert Lea Housing and Redevelopment Authority Executive Director explained that the recent foreclosures are steady enough and this is resulting to the coming of approx 10 homes in the market every month and this itself signifies a betterment in the market conditions. Ford further observed that, “It doesn’t appear to be getting any worse in that sense. It doesn’t appear to be getting any better, either. It’s kind of where it’s been the last three years or so.” According to Ford, there were approx 300 foreclosures starting from 2006 to 2008 at Freeborn County. Ford finds this comparatively a better scenario as the figures seem to be higher than the usual figure and moreover, according to him the yearly figure for 2009 seems to come down to approx 100. Ford feels that it is tough to estimate the foreclosure ...
The Present Foreclosure Scenario Is Ruled By The Rising Risks Involving The
2009-08-24 19:36:00 The recessionary situation gained a new impetus as the crisis of mortgages kept on expanding and reached to its helm as the major chunk of the share regarding the occurrence of foreclosures has hit on the ones borrowing a major lump sum from some source as there has been major loss of jobs and curbs in payments has definitely caused a lot of loss to most people. The statistics show that an approx number of 12% owners of houses down with mortgages lagged behind regarding mortgages and making payments almost during the first half of the year. This was observed Mortgage Bankers Association. Unfortunately this particular pattern in mortgage payments will supposedly continue till the following year. Moreover in the following six months the trends in unemployment and joblessness is going to attain a pivotal position. The rates of loans which is dangerous yet can be adjusted is afforded to the ones borrowing money and this trend began with the coming of recession and to some extent this as...
More houses going into foreclosure in California
2009-08-13 17:25:00 According to the LA Times: July stats from ForeclosureRadar show that the backlog of California homes in default, but not yet repossessed, keeps growing. At some point, many of these properties will be repossessed and put back on the market. Some may be kept by the current owners through loan modifications, but that hasn’t happened much so ...
By: National Bubble
The foreclosure mess continues
2009-08-13 15:42:00 More bad numbers from RealtyTrac this morning: The foreclosure plague continued to devastate last month. There were more than 360,000 properties with foreclosure filings — including default notices, scheduled auctions and bank repossessions — an increase of 7% from June and 32% from July 2008, according to RealtyTrac, an online marketer of foreclosed homes. In fact, one ...
By: National Bubble
Lisa Wu-Hartwell, Real Housewife Of Atlanta, Foreclosure (Photos)
2009-08-11 21:12:00 The Real Housewives of Atlanta star Lisa Wu- Hartwell, who is married to former Oakland Raiders linebacker Edgerton Hartwell, lost her mansion in Atlanta to foreclosure last week. Lisa and Edgerton were working on a restructure of the loan for their house because it had lost value but when they failed to pay the loan, the ...
Eddy Curry's Mansion in Foreclosure
2009-07-01 00:11:00 Can things get any worse for Eddy Curry? He's been bound and robbed, had important people in his life die and has been an utter failure on the professional basketball circuit.I can't help but feel sorry for him and Knicks fans. Maybe he'll come in next year and be in half way decent shape? That's all you can really hope for.Here are some numbers on the whole debacle from ESPN:Documents show that Curry was more than $217,000 behind on his $3.7 million mortgage as of Friday. Records reviewed by the Chicago Sun-Times show that Curry and his wife, Patrice, took the 30-year mortgage out in July 2003 to buy the home. A court filing says the Currys' initial interest rate on the home loan was 9.25 percent with a monthly payment of $28,675.Ouch. Help a Knick out, people!
The Henderson foreclosure picture
2009-06-29 00:14:00 I was recently sent a written interview by an international investor publication concerning investing in Henderson real estate. I have included both the questions and answers in this series of articles on Henderson Home investment opportunities. Allison (Question): What is the foreclosure picture in Henderson? I know Henderson is a nearby “neighbor” market of Las Vegas. ...
Constance Hays wrote a new blog post: My neighborhood- Foreclosure Posterch
2009-06-14 19:19:00 Constance Hays wrote a new blog post: My neighborhood- Foreclosure Posterchild I don’t think anyone realizes the severity of the foreclosure crisis. My three bedroom condo was purchased for 230,000.00 in Las Vegas. After foreclosure, it is selling for 62,000. How can that happen? I started looking at the listings in my old neighborhood-on the east side of Las Vegas . I discovered many foreclosed homes which once belonged ...
Victoria Gotti ?Growing Up Gotti? Estate in Foreclosure
2009-05-12 19:18:00 Victoria Gotti is losing her Long Island estate after not paying her mortgage for two years. The mobster daughter and former reality star owes $650,000 to lender JPMorgan Chase. Court records state...
By: Celebrity Smack!
Foreclosure Auctions Hit New York
2009-03-06 16:16:00 The foreclosure bug has finally hit New York ? big time! Over 375 foreclosed homes in New Jersey, New York and Pennsylvania are about to be put up for auction at bargain prices. The auction will take place at Manhattan?s Jacob K. Javits Convention Center this Sunday. California based USHomeAuction.com has done one auction here earlier. ...
Congress and HUD Secretary Mull Over Foreclosure Plans
2009-03-06 16:13:00 Housing Secretary Shaun Donovan, prompted by record low new home sales and foreclosure losses, told lawmakers last Thursday that the Obama administration’s planned $75 billion foreclosure prevention program was all set to launch this week. Final details are to be released this Wednesday, but Donovan stated that the plan will let borrowers who have big credit ...
Foreclosure Relief Program for Minnesota
2009-03-04 13:57:00 Barack Obama, the newly elected President of US announced on Friday that the Federal money will be used to revive struggling neighborhoods statewide that have been overwhelmed by abandoned and vacant homes. A 100- year old vacant Frog town home which has boarded windows and cracked ceilings served as the backdrop on Friday as the state ...
Foreclosure Bills for Renters
2009-03-04 13:49:00 The lawmakers of Nevada worked out on bills on Wenesday to help ease foreclosure problems for homeowners, health care facilities and even renters who are mostly unaware of their landlord?s mortgage terms and conditions until they face eviction. The Assembly Commerce and Labor Chairman Marcus Conklin said that over 32,000 homes were foreclosed in Nevada over ...
Public Conference on Foreclosure Issue
2009-03-02 14:43:00 A free public conference on the issues of current financial crisis and future of housing development will be held in San Joaquin County in the next week of this month at the University of the Pacific. The conference is scheduled to be held from 9 to 11:30 a.m. next Tuesday in the DeRosa University Center ballroom and is being sponsored by Pacific’s Business Forecasting Center and the San Joaquin Council of Governments. The topics will range from the long-range forecast of home values as well as foreclosure trend and state and local housing policies. The speakers will each talk for about 25 minutes with questions and answers afterward. The following speakers will address at the conference. These are Jeffrey Michael, director of Pacific’s Business Forecasting Center, will cover the topic on housing forecast. The other eminent speakers are John Beckman, chief executive officer of the Stockton-based Building Industry Association of the Delta. Rani Isaac, an economist with...
Hopes on Foreclosure Plan
2009-03-02 14:24:00 After the federal government took over the lending giants Fannie Mae and Freddie Mac last year, the two enacted a sweeping plan to stave off foreclosures which included setting up a moratorium on them till 2009 and finding out ways to cut payments. Despite all these efforts, many ended up back in front of James Frazier to be sold. And Frazier, the master commissioner of the Fayette Circuit Court, said suspects that stimulus package by President Barack Obama announced last week might have just the same results. Many large banks have committed to a moratorium on foreclosures until the plan can be enacted. James Frazier like many in Central Kentucky appreciated the president’s effort but is skeptical that the plan will do any better than those that preceded it. That notion has not been lost on homeowners in danger of being foreclosed upon. The day after Obama’s plan was unveiled, Community Ventures Corp., which provides assistance to distressed mortgage bearers, had receiv...
Foreclosure Plan for Only Five States
2009-02-27 13:27:00 The newly elected President of United States Barack Obama discussed his $275 billion mortgage bailout to help the distressed borrowers. He talked about the issue of foreclosures as a national problem caused by the national decline in home prices. He said that they have to find out the root cause for the spread of high number of foreclosures. The president was also worried about the falling of home values in America. Obama added that there is no national market for homes and no national prices for homes. The situation is such that entire United States has to pay for the folly of few. The president announced that the beneficiaries of taxpayer charity will be highly concentrated in just five states - California, Nevada, Arizona, Florida and Michigan. That is not because the subsidized homeowners are poor because Californians with $700,000 mortgages cannot be said to be poor. This has happened because they took on too much debt, often by refinancing in risky ways to "cash out"...
Foreclosure Help for Maryland
2009-02-26 15:31:00 As President Barrack Obama came up with a new $75 billion plan, Maryland and other states in US continue to struggle with the rising effects of foreclosures. This plan will be help 9 million deserving families to stay in their homes. It’s a long awaited relief but for many there is no way out to beat the recession period. With the help of Mr. Obama’s program, the lenders will be given incentives to renegotiate loans. They will also be provided with government subsidies to reduce monthly payments to help homeowners so that there will less number of defaulters. Fannie Mae and Freddie Mac have agreed to offer refinancing without requiring the 20 percent equity that many homeowners no longer have because of plunging property values. The president promises angry mortgage payers that irresponsible home buyers will not receive any help and said that he will fight for bankruptcy reform legislation that would allow judges to reduce mortgage debt for borrowers who have become defaulte...
Foreclosure Plan for Hawaii
2009-02-25 14:33:00 President Barrack Obama announced a foreclosure plan on Wednesday which has been estimated to be about $50 to $100 billion plan to help slow down the wave of foreclosures. The Mortgage lenders in Hawaii said they are hoping that the program will save struggling homeowners and stimulate the economy. A rescue plan for homeowners is expected to help reduce mortgage payments by modifying loans. The president of the Hawaii Association of Mortgage Brokers said he believes the program will stimulate and level out the market. This will also help to decrease the number of foreclosures in Hawaii. Ravelo, HAMB President said that they are having the same hardships as mainland however; they are still in high hopes. He added that they always have the backlash that the state of Hawaii does compare to the mainland. It’s always better to have something. This foreclosure plan is to help responsible homeowners stay in their homes. The economists said the amount may not be that helpful for least...
Mixed Reactions from Arizona Politicians on Foreclosure Plan
2009-02-25 14:04:00 The proposal of $75 billion foreclosure crisis plan by Barack Obama drew mixed remarks from Arizona politicians. Arizona Attorney General Terry Goddard, a Democrat, said that Obama’s housing prescription was solid and predicted Arizona will be one of the greatest beneficiaries. He added that Arizona is desperately in need of the kind of lifeline that the president threw out today. Most of the communities in Arizona are in crisis because of large numbers of vacant houses. Goddard said on Wednesday after Obama’s speech in Mesa that most of the home prices have gone down. Rep. Harry Mitchell, D-Ariz., said that he was honored by Obama chose his congressional district to announce the plan. This plan aims to stabilize home values by helping millions of struggling but "responsible" Americans refinance their mortgages, lower their monthly payments and save their houses. But Mitchell said he will wait for more details before deciding whether to support all aspects of ...
Obama Unveils Plan to Decrease Foreclosure in Texas
2009-02-20 14:40:00 At least one in three homeowners in Texas will probably be affected by the large number of foreclosures across the state as said a Senate committee on Wednesday. The housing experts said that, about 96,000 foreclosures statewide last year and similar number expected this year will not only affect those who lose homes, but also their ...
Foreclosure in Sonoma County Drops By the Year End
2009-02-05 15:18:00 The rising number of foreclosures that swept over Sonoma County began to gradually decline by the end of 2008. This is the first drop in three years, but the analysts have warned another tide that economy might face. Some of the decline was due to the new state laws which aimed at slowing the foreclosure process. ...
The Officials Warn People Against Foreclosure Scam
2009-01-30 17:27:00 The increase in number of foreclosures has affected homeowners badly. Now, they are also falling into the prey of swindlers who are taking advantage of families whose homes have been foreclosed. A number of complaints have been lodged regarding foreclosure scams. Mayor Antonio Villaraigosa and a host of bankers, legal aid lawyers and law enforcement officials ...
Workshop sought to help borrowers ride out the foreclosure crisis
2009-01-28 14:19:00 The foreclosure issue continues to haunt the borrowers in Nevada and across the country. Almost thousands of homes in North Las Vegas have faced foreclosure. Signs of foreclosure are put up in almost all neighborhood areas of North Las Vegas. Realtytrac.com, a foreclosure listing firm based in California reports that approximately 1,400 households have been ...
Foreclosure Filings increase by 81% in the year-end
2009-01-23 13:15:00 Over 2.3 million properties of American homeowners were foreclosed in the previous year. This was estimated to be an 81% increase from 2007. The situation is anticipated to become even worse, with frequent layoffs, a downturn in investment portfolios and lowering of home rates deeply affecting the modern consumer Over 860,000 homes were actually seized ...
Facing Foreclosure Today Has Its Advantages
2009-01-23 04:49:00 Dealing with the threat of foreclosure is never pleasant. However, those facing foreclosure today are in a better position than many in times past. That is because, with the wave of foreclosures washing over the nation and the hugely negative impact that wave has on the overall economy, the range of options for those in ...
Foreclosure filings increase by 151% in the Albany County
2009-01-22 12:59:00 Filings of property foreclosures increased by 151 percent in the previous year in Albany, in N.Y, region. The figures brought out a few days ago estimated that the number of householders threatened with the foreclosure crisis is a small fraction of the property stocks. RealtyTrac, a foreclosure listing firm based in Irvine, Calif reported that the ...
Homeowners In Monroe County Turn To Federal Courts for Foreclosure Cases
2009-01-20 13:10:00 The home foreclosure cases of Monroe County processed in federal court have decreased in number.The Monroe County Sheriff’s Department handles the record number of foreclosures filed in county court. In October 2008, only three Monroe County foreclosure cases resulted in mortgage holders repossessing the homes through a federal court sale. After that no federal foreclosure filings ...
Short Sale Foreclosure Training Testimonials
2009-01-12 15:09:00 What exactly do we do in the Short Sale By The Numbers Online Video Course? Short Sale Foreclosure Training. That’s what we do and we like to think we do it well. At least that’s what were told by the thousands of those who have enrolled! If you are interested in learning just how we can ...Post from: Real Estate Investing information from Real Estate Radio USA Short Sale Foreclosure Training Testimonials
Greenwich Fighting Hard With Foreclosure
2009-01-12 14:52:00 The rate of foreclosure in motion in the first 11 months of 2008 in Greenwich went up by 42 percent as compared to the figure last year during the same time period. It has been found that about 132 units in the real estate area of Greenwich town have been in a state of foreclosure ...
Near Foreclosure and In Need of a Short Sale
2009-01-09 20:52:00 What is a Short Sale? If you have to sell your home and you want to avoid continuous late mortgage payments and/or a foreclosure then a short sale is one option. A short sale is when your mortgage company accepts...
Foreclosure in Oregon Remains High at Year End
2009-01-07 13:41:00 The rate of foreclosure has been continuously rising in the real estate area of Oregon. As a result of this, the value of homes has come down heavily. 2008 is about to end, but the residents of Oregon are still in a state of despair due to the increasing rate of foreclosure. In the month ...
Foreclosure Is Still On Despite Efforts of the Mortgage Service Providers
2009-01-07 12:27:00 Despite strong efforts made by the mortgage service providers to assist the borrowers to keep back their real estate, the rate of foreclosure did not stop increasing in the third quarter. The condition of the economy is really bad and more number of people defaulted on their loan payments. The new foreclosures boiled down from ...
Thurston County Foreclosure Increases by 50 percent
2009-01-06 12:35:00 Thurston County has been found to have an increasing rate of foreclosure problem. It has witnessed nearly 50 percent increase in its rate of foreclosure in 2008 from what it was in 2007. The reason behind it has been attributed to the slump economy of the county. The number of foreclosure sales filed by the ...
Foreclosure in Indiana is the Fifth Highest
2009-01-05 20:07:00 It has been recently found that the rate of foreclosures in the United States is one of the highest in the real estate area of Indiana. The end of third quarter in September shows that the rate of foreclosure in this state is the fifth highest. The percentage of loans in foreclosure in Indiana stands ...
Foreclosure Increasing the Number of Homeless Students
2009-01-05 19:36:00 With the increasing number of foreclosures, the number of homeless children is also increasing. At some places, it has been found that the number of homeless have increased by 50 to 100 percent. As more number of children is becoming homeless, this is putting a great pressure on their minds. It has been estimated that ...
Foreclosures step up the rate of sales of households in the Phoenix Region
2009-01-02 13:18:00 Despite a fall in the average sales rate owing to the dwindling condo and new-home markets, the selling rate of the single-family houses in the phoenix area in November was even higher than last year. As per the report of the real estate information service, the buyer’s choice for a discount in foreclosures buttressed the ...
Lull Before another Foreclosure Storm in US
2008-12-29 13:14:00 According to US Foreclosure Market Report of 2008, the rate of foreclosure filings is down by 7 percent for the month. However, the figure shows a 28 percent increase from what it was during the same period last year. This November, one out of every 488 households in the US received a notice of foreclosure. ... |
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