Bank Owned Foreclosed Homes And Government Foreclosure Properties

Thursday, February 28th, 2008

Dallas seems to be in trouble again in 2007 as it witnessed almost 43,000 homes going into foreclosure. Homeowners are feeling the heat more and more and they are not too sure if the rate of bank foreclosure homes in the Dallas Metro is going to rise again in 2008. The rate of Dallas bank foreclosures are actually up by 10% since 2006 and have almost become a record. According to industry estimates, the foreclosure houses market in the Dallas-Ft. Worth area has grown by leaps and bounds. The rate was 50% in the past 5 years and analysts believe this high rate is due to the lax lending standards. Around the end of the year in December 2007, number of Texas foreclosure homes sold went up by 14% as compared to 2006, which is good news for investors.

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Wednesday, February 27th, 2008

It seems like Texas has been hit not by a tropical storm but by foreclosures and casualties are quite high. Last year started with a bang and ended with a bang too as 2007 saw the Texas homes in foreclosure reach 36,140 in the last quarter itself. Although experts say that this is 18% less than the number of foreclosures earlier in 2007 but that is no consolation for existing homeowners who seem to be living in fear of losing their homes. The one thing to blame is the sub-prime mortgages, the varying interest rates, which has made it difficult and somewhat uncomfortable for homeowners to make their monthly payment. The end result is Texas bank foreclosure homes!

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Tuesday, February 26th, 2008

Orlando is one of the visibly popular cities in the state of Florida as far as tourism is concerned but now it is a new market for buying foreclosed homes. The rate of Orlando bank foreclosures are increasing at such a rapid rate that some people say that soon the Disney Kingdom will also feature in the foreclosure list. It is a far fetched thought but at the same time it goes on to show how much foreclosed houses have affected homeowners.

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Friday, February 22nd, 2008

Home Owners facing foreclosure on their homes often forget why they are losing their homes in the first place. Usually these owners don’t even think about foreclosures when they miss the first 3 payments; they only actually realize that they are in debt when the letter from the financial companies arrives.

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Thursday, February 21st, 2008

Existing homeowners in different parts of the Sunshine State including Jacksonville are facing a reversal of fortune with higher interest rates, more delinquencies and increase in the number of foreclosed homes. If this goes on for too long then there might not be any takers for some of the bank foreclosures in the state. The repository of such homes is increasing and there are very few investors and to make matters worse, more and more homeowners are failing to make their mortgage payments.

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Wednesday, February 20th, 2008

A popular tourist destination and state that has some of the most modern infrastructures, Florida is reeling under the burden of foreclosed homes. After the increase of foreclosures in Florida in 2006, 2007 was no better for the state. For two straight years, homeowners in Florida have been under the knife and their homes are being put on for auction. Due to the fluctuating rate of interest in sub-prime mortgages, homeowners are finding it extremely tough to make their monthly payments and by the end of 2007, Florida shared the top rank with Nevada where foreclosure homes are concerned.

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Tuesday, February 19th, 2008

The State of Colorado has witnessed many moments in history when the state was ravaged and it seems that history is going to repeat itself especially with the increasing number of foreclosure homes in the state. The badly hit areas include Teller and El Paso County recording in excess of 1,500 bank foreclosures in 2007. In fact, the county has come a long way since 1995 when it recorded a low of 431 filings to 2001 when it recorded 1,163 foreclosed homes.

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Monday, February 18th, 2008

There is no respite for homeowners in North Carolina as this beautiful state has been marred by a constant rise in bank foreclosures. In fact, the filings have increased by almost 66.7% in North Carolina in the year 2007. 2008 has started with an increase in the repository of North Carolina bank foreclosures and this is almost a nightmarish condition for homeowners across the different counties.

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Thursday, February 14th, 2008

Homeowners in North Carolina have been struggling to keep their American Dream alive especially in the event of high rate of bank foreclosures. North Carolina boasts of tough mortgage laws, which was enforced almost a decade back and have been able to provide some protection against foreclosures although there is a long way to go. But the sad truth is that in spite of these stringent laws, North Carolina has witnessed a rise in the number of foreclosed homes in the recent times.

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Monday, February 11th, 2008

A state that has so far been famous for its beaches and weather is now becoming infamous for its bank foreclosures. Yes! Florida seems to be in the doldrums with some of the highest foreclosure rates recorded in the country in 2007. According to a report, in August 2007, mortgage lenders in Tampa filed lawsuits to enable foreclosure on 860 Florida properties that were spread across Hillsborough County, Pinellas County, and Pasco County. This has caused an increase in the foreclosure rate by 44% as compared to the rate in August 2005.

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