Where to Buy Foreclosed Homes

Foreclosed Home Hurting Property Values in Iowa

admin — Thu, 11 Mar 2010 01:53:31 +0000

Foreclosed domestic abound in Iowa as lenders are returning them to the market to be sold at distant below the average market price. This could be excellent news for buyers and investors looking for cheap buys.

But to owners of properties near these foreclosed homes, the trend is causing them many sleepless nights. Recent market data showed that a growing number of properties are worth less than the mortgage that they owed to their lenders.

According to industry experts, many cities and neighbourhoods in Iowa would continue to be affected as foreclosure houses pull down property values and reduce tax bases. They expected that foreclosed houses in the state will shrink the worth of nearly 317,552 neighboring properties by approximately $323 million before the conclusion of this year.

Furthermore, losses in the state are expected to increase to nearly $1.2 billion until 2012 as the impact of the foreclosure crisis widens to affect over 565,000 neighboring houses.

An assessor data analysis showed that approximately $421 million worth of foreclosure houses were sold in Iowa final year, twice the total worth of $172 million sold the previous year. This year until June, approximately $109 million worth of foreclosed houses were sold.

Meanwhile, repossessed homes accounted for nearly 9.5 percent of the $4.5 billion domestic sales in Iowa in 2008. For the first six months of this year, foreclosure properties accounted for nearly 8.3 percent of the total domestic sales in the state, compared with approximately 3.4 percent in 2007.

In Polk County, bank-owned homes accounted for 15 percent of domestic sales for the first seven months of this year. In Dallas County, 12 percent of domestic sales were foreclosures.

On the other hand, discounts for genuine-estate owned (REO) are growing to 34 percent this year compared with 21 percent two years ago. Typically, bank-owned homes were sold at a reduction of 35 percent in Polk County for the first seven months of this year and 22 percent lower the market price in Dallas County.

Market data showed that banks in Iowa owned approximately $56 million in foreclosed properties in the moment quarter, an increase of 88 percent compared with figures the previous year.

‘People get tired, worn out’ as they try to obtain loan modifications – Culpeper Star Exponent

admin — Wed, 10 Mar 2010 21:49:22 +0000

PR Web (press release) 'People get tired, worn out' as they attempt to obtain loan modifications Culpeper Star Exponent A loan modification has come through—after a certified mortgage counselor associated with the Virginia Foreclosure Prevention Task Compel recently intervened … Obama Foreclosure -Prevention Plot Lagging, Modern Data Shows (EXCLUSIVE) Huffington Post (blog) Trying to Save a Domestic From Foreclosure Can be Scary and Costly; Modern Loan …

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‘People get tired, worn out’ as they attempt to obtain loan modifications – Culpeper Star Exponent

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Brockton activist takes foreclosure woes to Bernanke – Boston Globe

admin — Wed, 10 Mar 2010 21:49:22 +0000

Boston Globe Brockton activist takes foreclosure woes to Bernanke Boston Globe Katie Sandford is a Brockton housing activist and youthful mother who worries approximately how foreclosures have hurt her city. … Hub activist questions Fed chief to go simple on homeowners Boston Herald all 7 news articles »

Excerpt from:
Brockton activist takes foreclosure woes to Bernanke – Boston Globe

By admin

Savemefromforeclosure.com, LLC Receives 2009 Best of Business Award

admin — Wed, 10 Mar 2010 21:49:22 +0000

SAN FRANCISCO, March 09, 2010— Savemefromforeclosure.com, LLC has been selected for the 2009 Best of Commerce Award in the Debt counseling or adjustment service, individuals category by the Small Commerce Commerce Organization (SBCA)

The Small Commerce Commerce Organization (SBCA) is pleased to announce that Savemefromforeclosure.com, LLC has been selected for the 2009 Best of Commerce Award in the Debt counseling or adjustment service, individuals category.

The SBCA 2009 Award Program recognizes the summit 5% of small businesses throughout the country. Using statistical research and consumer feedback, the SBCA identifies companies that we believe have demonstrated what makes small businesses a vital portion of the American economy. The choice committee chooses the award winners from nominees based off statistical research and too information taken from monthly surveys administered by the SBCA, a review of consumer rankings, and other consumer reports. Award winners are a valuable asset to their community and exemplify what makes small businesses brilliant.

Approximately Small Commerce Commerce Organization (SBCA)

Small Commerce Commerce Organization (SBCA) is a San Francisco based organization. The SBCA is a private sector entity that aims to provide tactical guidance with many day to day issues that small commerce owners face. In addition to our main goal of providing a central repository of small commerce operational advice; we use consumer feedback to identify companies that exemplify what makes small commerce a vital portion of the American economy.

SOURCE: Small Commerce Commerce Organization

Contact:

Small Commerce Commerce Organization
Email: Press@SBCAAwards.org
URL: http://www.SBCAAwards.org

By justin_lee

Obama Foreclosure-Prevention Plan Lagging, New Data Shows (EXCLUSIVE) – Huffington Post (blog)

admin — Wed, 10 Mar 2010 21:49:22 +0000

Mortgage Rates & Trends (blog) Obama Foreclosure -Prevention Plot Lagging, Modern Data Shows (EXCLUSIVE) Huffington Post (blog) “Hundreds of thousands of homeowners are left in limbo by [mortgage] servicers and [are] once again at risk of foreclosure .” Rep. ..

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Obama Foreclosure-Prevention Plot Lagging, Modern Data Shows (EXCLUSIVE) – Huffington Post (blog)

By admin

Government Could Cut Seconds First – Wall Street Journal

admin — Wed, 10 Mar 2010 21:49:21 +0000

UPI.com Government Could Cut Seconds First Wall Street Journal The government's foreclosure -prevention approach focuses primarily on modifying the first mortgage by, say, reducing the interest rate. … Helping upside-down domestic owners stave off foreclosure Detroit ReleasePress AGs Warn Consumers Approximately Foreclosure Scams KCTV Kansas City Maryland Attorney Common Warns Consumers to Avoid Foreclosure Sharks LoanSafe The Star-Ledger – NJ.com - NuWire Investor - The Commerce Insider all 64 news articles »

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Government Could Cut Seconds First – Wall Street Journal

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BALCOM AVE, BRONX PRE-FORECLOSURES, BRONX – NY

admin — Wed, 10 Mar 2010 21:49:20 +0000

Location: Bronx Pre-foreclosure, Bronx – NY, Address: Balcom Ave, Zipcode: 10465, Code: 25369255, Fashion: Not Available, Bed/Baths: – / -, Price: $0
By foreclosurelistings.com

LITCHFIELD AVE, BABYLON PRE-FORECLOSURES, SUFFOLK – NY

admin — Wed, 10 Mar 2010 21:49:20 +0000

Location: Babylon Pre-foreclosure, Suffolk – NY, Address: Litchfield Ave, Zipcode: 11702, Code: 25369254, Fashion: Not Available, Bed/Baths: – / -, Price: $0
By foreclosurelistings.com

LYON ST, VALLEY STREAM PRE-FORECLOSURES, NASSAU – NY

admin — Wed, 10 Mar 2010 21:49:20 +0000

Location: Valley Stream Pre-foreclosure, Nassau – NY, Address: Lyon St, Zipcode: 11580, Code: 25369253, Fashion: Not Available, Bed/Baths: – / -, Price: $0
By foreclosurelistings.com

135TH ST, SOUTH RICHMOND HILL PRE-FORECLOSURES, QUEENS – NY

admin — Wed, 10 Mar 2010 21:49:20 +0000

Location: South Richmond Hill Pre-foreclosure, Queens – NY, Address: 135th St, Zipcode: 11419, Code: 25369252, Fashion: Not Available, Bed/Baths: – / -, Price: $0
By foreclosurelistings.com