Archive for May, 2008

Miami Foreclosures are on the rise

Thursday, May 29th, 2008

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 1,000 households. In the last couple of years, Miami has had foreclosure rates that were higher than national average and the primary reason being that most Miami properties attract investors who want to buy properties for sole reason of flipping them for a profit.

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Despite Tough Laws, North Carolina Foreclosures Continue to Rise!

Monday, May 26th, 2008

Despite 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.
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Foreclosure Crisis Hits The U.K

Tuesday, May 20th, 2008

The 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.

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Fed’s Says That The Foreclosure Crisis Needs Non-Traditional Remedies

Tuesday, May 13th, 2008

Governor 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.

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Georgia’s Capital Atlanta Reeling Under Hectic Foreclosure Activity!

Monday, May 12th, 2008

According 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 area was $1,076,975,783!

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