Tag: foreclosed homes

  • Fewer Homes Being Repossessed, Thanks to Investors

    Here's Why Bank Repossessions Are Down Sharply

    The number of homes on the market that have gone through foreclosure has taken a steep dive compared to this time in 2012, thanks to a particular group of homebuyers. Continue Reading

  • Woman's Belongings Lost When Repo Crew Empties Wrong House

    SEE: Woman's Belongings Taken in Foreclosure Snafu

    Nikki Bailey of Logan, W.Va., came home to find that her home had wrongly been broken into and all of her belongings trucked away by a repo crew. But she can't press criminal charges. Continue Reading

  • Squatting in Foreclosed Homes on the Rise?

    The Problem of Squatters in Vacant Homes Isn't Going Away

    In some states, more squatters appear to be claiming rights of adverse possession to live for free in foreclosed and otherwise vacant homes. Continue Reading

  • 'Sharpie Parties' Wreak Havoc on Foreclosed Homes

    'Sharpie Parties' Wreak Havoc on Foreclosed Homes

    In the age of Facebook and Twitter, a new crime has hit America: "Sharpie parties," gatherings of party revelers armed with "Sharpie" magic markers and lured by social media invitations to wreak havoc on foreclosed homes. Continue Reading

  • Los Angeles Sues U.S. Bank, Calls It a 'Slumlord'

    L.A. Sues U.S. Bank, Calls It a 'Slumlord'

    Los Angeles says the bank has ignored repeated demands that it comply with the law, causing hundreds of homes to become uninhabitable or "public nuisances," and resulting in illegal evictions. Continue Reading

  • Banks Neglect REO Homes in Minority Areas, Study Says

    Banks Neglect REO Homes in Minority Areas, Study Says

    After the housing meltdown, banks have repeatedly come under fire for allegedly using discriminatory lending practices against minorities. A study from the Center for Responsible Lending found that blacks and Hispanics with credit scores above 660 received subprime mortgages three times as often as whites with... Continue Reading

  • Foreclosed Homeowner 'Booby-Traps' Home

    Foreclosed Homeowner 'Booby-Traps' Home

    Hell hath no fury like a homeowner scorned. The FBI, a bomb squad, and first responders donning hazmat suits converged on a foreclosed home in South Seattle on Monday, according to KOMO News. The reason? Police believe the former owner booby-trapped the home in anticipation of his eviction. As it turns out,... Continue Reading

  • Viewpoint: Feeling Guilty About Buying a Foreclosure?

    Viewpoint: Feeling Guilty About Buying a Foreclosure?

    The sides in the housing crisis' morality play have been very neatly defined for us. The banks are the ruthless, faceless devils who cast out the sick and (financially) weak from their homes. A few bystanders -- let's call them renters-by-choice and anonymous online commenters -- stand on the sidelines... Continue Reading

  • Newest Squatters in Empty Homes: Rats and Coyotes

    Newest Squatters in Empty Homes: Rats and Coyotes

    Lynn McGee is mad as hell and isn't going to take it anymore. That's why she posted a banner saying "House Full of RATS & Bank Don't Care" across the front of the townhouse that adjoins hers in Greenacres, Florida. The derelict and abandoned unit next door has been in foreclosure since September 2009,... Continue Reading

  • Fewer Phoenix Foreclosures, But They Still Pack a Wallop

    Fewer Phoenix Foreclosures, But They Still Pack a Wallop

    Although foreclosure activity in Phoenix is down slightly from 43 percent to 38 percent of the total market month-over-month, it is still a tough market for potential sellers. Dawn Yazzie-Howard just went under contract with her 3-bedroom, 2-bath home in Mesa, Ariz., after eight months on the market. The news... Continue Reading

  • Housing Crisis Exposed: Foreclosure Ghost Towns

    Housing Crisis Exposed: Foreclosure Ghost Towns

    On paper, the housing crisis is a labyrinth of mismanaged paperwork, reams of foreclosure filings and stacks of ongoing investigations. But for families involved in the very real struggles of homeownership, foreclosure takes on an entirely new dimension. Two weeks ago HuffPost Business solicited photos from its... Continue Reading

  • Foreclosed Home Squatters Chased Out by SWAT Team

    Foreclosed Home Squatters Chased Out by SWAT Team

    The Naples, Fla., police department doesn't fool around when it comes to ridding a foreclosed home of illegal squatters. A SWAT team, called to a foreclosed home last month due to a so-called disturbance, gassed the place in an effort to force out a possible squatter who allegedly was hiding in the attic. In the... Continue Reading

  • Biggest Loser: Celebrity Home Edition

    Biggest Loser: Celebrity Home Edition

    The "Great Recession" has been anything but great for most peoples' bottom line. According to the National Bankruptcy Research Center, over 1.5 million people have declared bankruptcy in 2010, while RealtyTrac reports that 1.05 million homes went into foreclosure the same year. Both of these rates are record... Continue Reading

  • Robo-Signing Banks Set to Be Punished?

    Robo-Signing Banks Set to Be Punished?

    Is the ever-evolving trend of quickie foreclosures, robo-signing, rocket dockets and more that banks have adopted as of late finally going to cause them to get more than a handslap? According to recent reports, the answer is yes. Tom Ice of Ice Legal who was profiled in AOL Real Estate however, has a different... Continue Reading

  • Cheap Mortgage Rates: Don't Miss Out

    Cheap Mortgage Rates: Don't Miss Out

    With cheap mortgage rates topping 5 percent for the first time since April 2010, it's time to start getting serious if you're thinking of buying a home. While rates are still historically low, as the government begins to make decisions about what to do with Fannie Mae and Freddie Mac, you can be certain of one... Continue Reading

  • Homebuyer Tax Credit Bills Coming Due in 2011

    Homebuyer Tax Credit Bills Coming Due in 2011

    If you took advantage of the first time homebuyer tax credit in 2008, it's time to start repaying this interest -ree loan when you file your 2010 tax return by April 2011. But, if you used the homebuyer tax credits in 2009 or 2010, you won't ever have to repay the money unless you sell or otherwise dispose of... Continue Reading

  • Phoenix Foreclosures Rise Again

    Phoenix Foreclosures Rise Again

    A moratorium on foreclosures by some of the nation's largest banks didn't really help the distressed market in Phoenix. Arizona's largest city has seen an increase in the percentage of foreclosures when some other major cities were reporting a slight drop off at the start of the year. Foreclosures represented... Continue Reading

  • Foreclosures Fall, and Why That's Bad News

    Foreclosures Fall, and Why That's Bad News

    Bad news: The number of foreclosure actions taken by banks fell in January compared to the year before, according to the researchers at RealtyTrac. Foreclosures fall: bad news. Yes, you read that right. Banks seized fewer homes in January, and that's bad news for everyone. Here's how Rick Sharga, senior vice... Continue Reading

  • Worst Foreclosed Home Vandalism Ever?

    Worst Foreclosed Home Vandalism Ever?

    We don't expect foreclosed homes to be in mint condition, but what Tom Moon of Pacific Moon Real Estate saw when he walked through the doors of a 3,000-square-foot bank-owned home in Huntington Beach, Calif., was perhaps the worst case of home vandalism ever. Most walls in the house were splattered in mold, a... Continue Reading

  • Making Homeownership Dreams Come True

    Making Homeownership Dreams Come True

    The dream of homeownership has become a bit harder to achieve in these tough economic times. Now there's a nonprofit organization that's hoping to change that for those families where owning a home is always a far-fetched goal. Family Services, Inc., a nonprofit organization based in North Charleston,... Continue Reading

  • Communities Fight Back After Banks Walk Away

    Communities Fight Back After Banks Walk Away

    People aren't the only ones walking away from underwater mortgages. Banks are walking away, too. Communities are fighting back to regain control of their neighborhoods. Some by forcing banks to terminate mortgages. Others by purchasing the homes abandoned by banks, fixing them up then renting or selling... Continue Reading

  • Home Foreclosures Roll on at Record Rates

    Home Foreclosures Roll on at Record Rates

    Foreclosure -- the beast that is eating the housing market -- barely paused in October, despite the latest housing scandal. Experts thought foreclosures might go into hibernation after lenders botched thousands of foreclosures with skipped steps and faulty documentation. In at least one case, a single bank... Continue Reading

  • Foreclosures: Illinois Town Invests in Them

    Foreclosures: Illinois Town Invests in Them

    Foreclosed homes can bring down the value of neighboring homes and otherwise be a blight on the community if they sit vacant for an extended period of time. That's why the town of Cicero, Ill., a Chicago suburb, is buying up bank-foreclosed properties, rehabbing them and selling them back to residents as... Continue Reading

  • Buy a Home at a $100,000 Discount

    Buy a Home at a $100,000 Discount

    Source: SmartMoney Fannie Mae and Freddie Mac need to shrink their inventories of foreclosed homes, so the two government-controlled companies are offering some amazing deals, often with down payments as low as 3 percent plus other incentives. Many of the homes are lesser properties in less-than-desirable... Continue Reading

  • Fannie Mae to Sell Foreclosed Homes With Subprime Lending Terms

    Fannie Mae to Sell Foreclosed Homes With Subprime Lending Terms

    Thought those great low down-payment deals were gone? Think again. If you're willing to buy a home foreclosed by Fannie Mae through the new HomePath program, you may be able to purchase one with as little as 3 percent down. Even better, that 3 percent can be a gift from a family member or other third party, or a... Continue Reading