Foreclosures in Dallas are turning out to be big deals especially for the outsiders. Only a small fraction of the houses sold in foreclosure auctions are bought by outside purchasers; the bulk reverts back to the lenders at the monthly auctions. But when the outsiders pick up a property usually it [...]
US Repos News and Articles
Another Foreclosure Crisis with Different Spots is Stalking the Economy
Another type of foreclosure crisis with different spots is stalking the economy making recovery a distant dream. The situation is worsening because of dearth of lawyers. A new study is showing that an increasing number of foreclosure victims cannot avail of legal assistance so as to stand up for their rights. Consequently many who could [...]
Foreclosures in Phoenix Worsened by Quick Evictions
The pain from foreclosures is worsened in Phoenix by quick evictions. The foreclosed units are sold off in public auctions. The highest bidder gets the ownership of the property. The previous owner is expected to vacate the premises. As per the laws of Arizona the ex-owners have only five days within [...]
Landmark Ruling by Judge has the Potential to Make Null and Void Thousands of Foreclosures
The refusal by a Land Court Judge Keith Long to reverse a ruling has the potential to make null and void thousands of foreclosures in Bay State – going as far back as 1989. In the ruling the judge wrote, “The foreclosure sales (in question are) invalid because they failed to meet the requirements of [...]
Ironically Foreclosures Have Given a New Hope to Improve the Life Style of the Low Income Group
Ironically foreclosures have given a new hope to improve the life style of the low income group – it being a silver lining to the gloomy clouds. On Saturday 14th November 2009, was a mass moving in day for 24 families coming from the low income group. They shifted to luxury condos that had been [...]
Panicky Homeowners Facing Foreclosures are Easy Targets for Scammers
The housing crisis is slicing through the economy. Panicky homeowners facing foreclosures are becoming more and more easy victims of scammers. In Virginia there has been an ominous increase in rescue scams. The legislators in Hampton Roads are ready to tackle the menace.
The legislators have initiated bills to crack down on these [...]
Foreclosures Carry on its Forward March
Despite innumerable measures foreclosures are carrying on with its forward march. President Obama arrived in Henderson Nevada and tried to convince Americans that he was listening to the cries of assistance from homeowners threatened with foreclosures. His other purpose was to give a boost to the re-election prospects of Senator Harry [...]
Buyers Need to be Wary About Purchasing Foreclosure Properties Tempted by Bargains
There are deals available but the buyer needs to be wary when buying foreclosed properties tempted by bargain offers. Today the websites of some of the important banks have taken on the appearance of brokerage agencies, offering properties that are in their repossession.
The banks are offering discounts ranging from 15% to 20% less in comparison [...]
Another Alternative to Foreclosure Being Touted
Borrowers defaulting on their house loan are trying to seek the alternative option of short sale to get out of the morass. It provides a gracious exit from the financial mess. The houses are invariably sold for less the loan amount due but generally the lender forgives this balance.
But for some of the borrowers this [...]
High Time for Unemployment Insurance to be Privatized in Order to Check Foreclosures
Not only foreclosures the monetary crisis in many states seems to be an unending problem. The National Governors’ Association is certain that the depleting economy is going to collapse even further.
What indicates the disheartening financial condition of the various states is the fact that fifty percent and above funds kept to aid [...]