Bank Foreclosures Blog

I’ll let you into a secret. There is so much available right here at your fingertips. You will never have to pay for online education and tutorials again. Unless, that is, you really want to become a Guru and not just a successful investor in bank foreclosures! If you were like me when it was all new, and you wanted to learn as much online, for free, as you could, the first problem encountered was where to start.

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Trouble is brewing amid the beautiful modern homes in the historical settings of New England, New Hampshire, Boston and Rhode Island. Almost every community in The Bay State is now recording foreclosure filings, some with very low numbers but significantly high percentage increases over the same period in 2006. Massachusetts foreclosure listings are at a record high in some districts where mortgage payments are overwhelming homeowners.

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Michigan, the Great Lakes State, has an economy that has suffered enormously from the mounting troubles in the dominant auto industry. The last recession began in 2000, and the current decline appears to bear no relationship to a normal nationwide economic slow down. Unemployment is high in the region and that factor coupled with the nationwide problem of the unwise/unhealthy subprime financing offerings of the last 2 years means it cannot be too surprising to see that the state and its major metropolitan areas of Detroit and Grand Rapids figure constantly in the top rankings of the greatest number of foreclosure homes nationwide, making the number of Michigan foreclosure listings one of the highest in the US.

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It’s midsummer in Ohio, a name which in the local language meant beautiful river’. The June festivals have all come to a close. The Ohio Housing Finance Agency has never been busier or more preoccupied with what has now become a priority; keeping Ohio residents in their homes as a solution to the severe pressure of rising bank foreclosures this state has experienced over the last ten years, filings numbers increasing sharply in 2006. Urban counties in particular now figure as the major suppliers to properties listed in the Ohio foreclosure listings. Delaware county has recorded filings increase of 50% in the last 3 years; Franklin, Pickaway and Cuyahoga counties have increasing problems, its a statewide issue.

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Looking for a retirement home in the Sunshine State of Florida? Hoping to find a home and investment option among the range of properties offered in Florida foreclosure listings? There are plenty of bank foreclosures to choose from Statewide. Over 21,700 new filings were recorded in May, up 144% from May 2006, or 1 filing for every 336 households. Many properties in pre foreclosure, with some equity will not make it to auction, or even exchange hands as traditionally a large proportion will be refinanced or avoid foreclosure by entering into work out options with the lender. Even so, inventories of unsold foreclosure properties, predominantly single family homes, are higher than the national average, more than meeting the demand from locally based investing professionals.

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Long thought to be immune from housing bubble burst fallout and other pessimistic forecasts of real estate market worry, Texas is showing signs, according to latest news reports, of growing housing inventories. Together with a high rate of foreclosure filings, above the national average and currently 14th in foreclosure filings ranking nationwide, it appears Texas will not be without real estate market price pressures.

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