Miami experienced one of the highest quarterly rate of foreclosure per household by the end of the last quarter of 2007. The highest foreclosures by state were recorded in Miami-Dade County, which saw auctions of 987 foreclosed properties in the first quarter of 2008. This means the rate of foreclosures in Miami was 127 per [...]
Continue ReadingDespite having some of the strongest mortgage laws in America, North Carolina has been reeling with spiraling foreclosure rate. Foreclosed homes in North Carolina reach a figure of 3,298 in March 2008, indicating decease of 19% from Feb 2008, but a marginal increase of 2% from same period last year. The number of foreclosure houses [...]
Continue ReadingThe UK’s Ministry of Justice made an alarming statement on the repossession claims in Britain. According to the statement the U.K home repossession claims by lenders increased 16 percent from a year ago and is the highest since 1990s. Just as in the US. home prices have dropped across the country, except in London and [...]
Continue ReadingGovernor Randall Kroszner said today, that a non-traditional approach is needed to help the real estate foreclosure crisis and the financial problems led by the recession. The Governor spoke about the current crisis and he said that lenders have indulged and took the risk, when some had mortgage rations above 90%. According to the Governor [...]
Continue ReadingAccording to statistics released by Alpharetta-based Equity Depot, there has been a 38% rise in the number of foreclosed homes in Atlanta for October 2007 as compared to September and a whopping 50% rise as compared to same time previous year. According to some estimates, the total value of foreclosure homes in Georgia Atlanta metro [...]
Continue Reading
