Foreclosures - Articles

Cities With the Most Foreclosures

ZillowFlorida is still the state with the highest rate of foreclosures, such as this one for sale in Port St. Lucie. Bank repossessions of homes are at their lowest level since July 2007. But foreclosures rose 4 percent from February to March as 117,485 U.S. properties were foreclosed last month, according to a new... Continue Reading »

Repossessions Drop to Lowest Level in More Than 6 Years

Alamy By ALEX VEIGA LOS ANGELES -- Lenders repossessed fewer U.S. homes in January, bringing the number of completed foreclosures down to the lowest level in more than six years. Even so, many states posted sharp increases in the number of homes entering the foreclosure process for the first time, a trend that raises the... Continue Reading »

Fewest Foreclosures in California Since 2005

AP SAN DIEGO -- California home foreclosure activity plummeted to an eight-year low in the fourth quarter as price gains left fewer owners owing more money than their properties were worth, a real estate research firm said Tuesday. There were 18,120 default notices filed on houses and condominiums from October through... Continue Reading »

Homes Lost to Foreclosure Hit 6-year Low Last Year

Alamy By ALEX VEIGA LOS ANGELES -- The number of U.S. homes that got started on the path to foreclosure fell last year to a low not seen since before the high-flying days of the housing boom, the latest evidence that the threat of foreclosures continues to diminish. Lenders also took back the fewest number of homes last... Continue Reading »

Foreclosure Activity Drops to Lowest Level Since 2005

By Alex Veiga LOS ANGELES -- While foreclosures remain a concern in select states, the number of U.S. homes entering the path to foreclosure or winding up repossessed by lenders has fallen to levels not seen in more than six years. The trend is the latest sign foreclosures are becoming less of a national factor on... Continue Reading »

Do Fewer Foreclosures Mean Housing Crisis Has Ended?

AP By Richard Davies The housing crisis, which led to huge drop in personal wealth for many Americans, may be over at long last. "I think that it's really in the rear-view mirror," says Daren Blomquist of the real estate and foreclosure listings firm RealtyTrac. The foreclosure crisis, perhaps the biggest scar on the... Continue Reading »

What the Chase Settlement Could Mean for Consumers

AP The Justice Department and JPMorgan Chase & Co. reportedly could sign a $13 billion agreement today that would be the largest ever reached between the U.S. government and a corporation, several news sources are reporting. The final issue in the settlement was said by persons familiar with the talks (but not... Continue Reading »

Fewer Homes Being Repossessed, Thanks to Investors

AP By Alex Veiga LOS ANGELES -- Fewer U.S. homes are completing the foreclosure process and ending up repossessed by banks because investors are increasingly buying up properties when they go on sale at public auction. The trend reflects a growing appetite among investors for buying homes before they exit the... Continue Reading »

Rate of Late Mortgage Payments Hits 5-Year Low

Shutterstock By Alex Veiga LOS ANGELES -- Fewer U.S. homeowners are falling behind on their mortgage payments, aided by rising home values, low interest rates and stable job gains. The trend brought down the national late-payment rate on home loans in the third quarter to a five-year low, credit reporting agency... Continue Reading »

Fewer Foreclosures Now, but They're Selling for Less

realtor.com By Christine DiGangi The number of distressed properties last month decreased 27 percent from September 2012, with a little less than 1.3 million properties in some stage of foreclosure (default, auction or bank owned). That's one in every 998 homes in foreclosure across the nation. Data from real estate... Continue Reading »

Fewer U.S. Homes Entered Foreclosure Track in 3Q

John Moore/Getty Images By ALEX VEIGA LOS ANGELES -- The number of U.S. homes set on the path to foreclosure slid to a seven-year low in the third quarter, reflecting a gradually improving housing market and fewer homeowners falling behind on mortgage payments. Lenders initiated foreclosure action on 174,366 homes in the... Continue Reading »

Chicago Acts to Soften Impact of Foreclosure on Renters

#fivemin-widget-blogsmith-image-362036{display:none;} .cke_show_borders #fivemin-widget-blogsmith-image-362036, #postcontentcontainer #fivemin-widget-blogsmith-image-362036{width:570px;height:411px;display:block;} Chicago wants renters to be able to keep living in buildings that have fallen into default or be paid... Continue Reading »

Fewer U.S. Homes Headed Into Foreclosure in August

Justin Sullivan/Getty Images By ALEX VEIGA LOS ANGELES -- Lenders initiated foreclosure action in August against the fewest U.S. homes for any month in nearly eight years, a trend that should help reduce the number of homes lost to foreclosure in the months ahead. Some 55,775 homes entered the foreclosure process last... Continue Reading »

California City Backs Plan to Seize 'Underwater' Mortgages

Justin Sullivan/Getty Images By Jim Christie RICHMOND, Calif. -- Richmond, Calif.'s leaders approved Wednesday morning a plan for the city to become the first in the nation to acquire mortgages with negative equity in a bid to keep local residents in their homes. The power of "eminent domain" allows governments to seize... Continue Reading »

Auctioned Detroit House Becomes a Dream Home (Video)

#fivemin-widget-blogsmith-image-255419{display:none;} .cke_show_borders #fivemin-widget-blogsmith-image-255419, #postcontentcontainer #fivemin-widget-blogsmith-image-255419{width:570px;height:411px;display:block;} While many were flocking from Detroit, leaving abandoned homes and distressed neighborhoods in their... Continue Reading »

Foreclosures Fall 25% in July from a Year Ago

AP NEW YORK -- There were fewer U.S. foreclosures in July than a year ago, while properties in the foreclosure pipeline also fell as the housing market continued to improve, according to data from CoreLogic. There were 49,000 completed foreclosures last month, down from a 65,000 in July of last year, CoreLogic (CLGX) said... Continue Reading »

Calif. City Looks to Seize Loans to Ease Mortgages

Mark Elias/Bloomberg via Getty Images By PAUL ELIAS SAN FRANCISCO -- When the mayor of Richmond, Calif., and a gaggle of activists and homeowners showed up at the Wells Fargo Bank headquarters in downtown San Francisco this month, they were on a mission to speak with the bank's chief executive. They wanted the bank to... Continue Reading »

Flood of Foreclosures Sweeps Through Several States

By Christine DeGangi Maryland's foreclosure starts in July increased 275 percent from last year, according to RealtyTrac's July 2013 U.S. Foreclosure Market Report. Overall Maryland foreclosure activity -- including default notices, scheduled auctions and bank repossessions -- saw a 148 percent increase since July 2012... Continue Reading »

Home Foreclosures on Track to End 2013 at 6-Year Low

Jae C. Hong/AP By ALEX VEIGA LOS ANGELES -- The U.S. is on track to end the year with the fewest homes repossessed by lenders in six years, a trend that should help limit the negative impact foreclosures have on home values. Lenders repossessed 36,964 U.S. homes last month, down 31 percent from July last year,... Continue Reading »

Improving Market Pushes Home Prices Higher in June

Nam Y. Huh/AP By Leah Schnurr NEW YORK -- U.S. home prices jumped in June and are forecast to ramp up further in the latest signs of a housing market that is on the mend, data from CoreLogic showed Tuesday. CoreLogic's home price index rose 1.9 percent from May and accelerated by 11.9 percent from June last... Continue Reading »

Good News for Homeowners: Fewer Foreclosures in June

Matt York/AP NEW YORK -- U.S. home foreclosure filings tumbled in June to a 6½-year low, a further sign the housing market is getting back on better footing, a report from RealtyTrac showed Thursday. Overall, 127,790 properties had foreclosure filings last month, down 14 percent from May, and down 35 percent from a... Continue Reading »

City's Fix for Mortgage Crisis: Seizing Home Loans by Eminent Domain

Doris Ducre of Richmond, Calif., is like millions of other homeowners in this country. She works a 9-to-5 job. She pays her bills. She's current on her mortgage. But Ducre (pictured above) feels like a renter in her own home because she's not gaining equity. "My home is underwater," she tells AOL Real Estate. The... Continue Reading »

Home Prices Heat Up in May as Pace of Gains Cools

Nick Ut/AP By Leah Schnurr NEW YORK -- U.S. single-family home prices rose in May, suggesting the housing market recovery continued during the spring buying season though the pace of gains cooled compared to the month before, a closely watched survey showed on Tuesday. The S&P/Case Shiller composite index of 20... Continue Reading »

Home Foreclosures Fall to Lowest Level in Nearly 8 Years

Ariel Skelley/Getty Images By ALEX VEIGA LOS ANGELES -- Fewer U.S. homes entered the foreclosure process or were repossessed by banks in June, the latest sign that the nation is shaking off its housing bust hangover. Lenders initiated the foreclosure process on 57,286 homes last month, the lowest level for any month in... Continue Reading »

Risky Adjustable-Rate Mortgages Are Starting to Make a Big Comeback

Getty Images The dramatic rise in interest rates that has occurred over the past two months has had a big impact on the mortgage-loan market. Rates on standard 30-year mortgages have gone from below 3.5 percent as recently as late April to well above 4.5 percent currently, according to Bankrate, significantly increasing... Continue Reading »

May Foreclosures Drop Sharply Compared to a Year Ago

By Leah Schnurr Fewer U.S. foreclosures were completed in May compared with a year ago, while the number of houses in the foreclosure process also declined as the market continued to heal, data analysis firm CoreLogic said on Tuesday. There were 52,000 foreclosures completed, well below the 71,000 in May last year, the... Continue Reading »

Minnesota Woman Says Bank Took Her Money, Foreclosed Anyway

Mardee Jerde is homeless today. At 9 a.m., a representative of JPMorgan Chase, along with a real estate agent and a locksmith, arrived to change the locks on her former three-bedroom house in Rush City, Minn. She's hoping that a last-ditch legal effort can get her home back, but meanwhile this breast-cancer survivor... Continue Reading »

Home Re-Sales Pass 5 Million Mark for 1st Time Since 2009

By Martin Crutsinger WASHINGTON -- U.S. sales of previously occupied homes surpassed the 5 million mark in May, the first time that's happened in 3½ years. The gain shows the housing recovery is strengthening. The National Association of Realtors said Thursday that home re-sales rose 4.2 percent in May to a... Continue Reading »

Home Repossessions Picked Up in May, RealtyTrac Reports

By Alex Veiga LOS ANGELES -- Lenders stepped up action last month against homeowners who had fallen behind on their mortgage payments, taking possession of more homes and initiating the foreclosure countdown clock on many others. Completed foreclosures jumped 11 percent nationally in May from the previous month, with... Continue Reading »

Number of Foreclosed Homes Holds Steady, CoreLogic Says

The number of foreclosed homes held steady in April, while there were fewer properties sitting in the pipeline, fresh signs the housing recovery is on track, data from CoreLogic showed on Wednesday. There were 52,000 foreclosures completed last month, the same amount as in March, but down about 16 percent from 62,000 in... Continue Reading »

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